LOS ANGELES: Jeff Wlodarczak has been one of Netflix Inc’s biggest advocates on Wall Street since he took over coverage of the company at Pivotal Research Group in 2015. Over four years, he never wavered from recommending the stock, and this summer the analyst predicted the streaming giant would eventually be worth more than US$200 billion.
But in September, Wlodarczak slashed his price target by a third to US$350 - the largest cut since he began coverage. While he still recommends the stock, Wlodarczak is part of a growing chorus of analysts who now worry Netflix is headed for a slowdown. Goldman Sachs Group Inc and UBS AG were among the latest to cut their expectations on Thursday.“Sentiment is awful, ” Wlodarczak said.