Netflix falls on J.P.Morgan's downgrade, removal from US focus list

Shares of Netflix NFLX.O down 2.06% at $1,167 premarket

J.P.Morgan downgrades stock to "neutral" from "overweight" but raises PT to $1,220 from $1,150; new PT represents a 2.38% upside to last close

The risk/reward balance in Netflix shares has become more even after a significant rise in its stock price and outperformance, JPM says

"We also remove Netflix from the U.S. Equity Analyst Focus List"- JPM

Brokerage says co's shares have held up well, but if concerns about tariffs and the broader economy continue to ease, investors may shift their focus to other internet stocks and market sectors that have been more vulnerable & pressured

Avg rating of 51 analysts is "buy"; median PT $1,150 - data compiled by LSEG

As of last close, NFLX stock is up 33.68% YTD, vs 20.87% increase in the S&P 500 Movies & Entertainment index .SPLRCENTE