Morgan Stanley slashes Netflix price target before earnings

Akio Kon | Bloomberg | Getty Images

Reed Hastings, chief executive officer of Netflix Inc.

Morgan Stanley cut its 12-month price target for Netflix, citing global trends like the strong dollar and rising interest rates as upping the online streaming service’s expenses. Netflix is expected to report earnings after the bell Tuesday.

Elsewhere on Wall Street, Deutsche Bank expects Netflix to report in line third-quarter earnings, saying in a note Tuesday that Netflix will also give a “better than expected” forecast for the fourth quarter.

“The risk/reward skews to the upside going into this earnings report,” Deutsche’s Bryan Kraft said in a note. “That said, we think the upside is limited in the short term.”

Deutsche Bank has a $350 a share price target on Netflix.

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