This article first appeared on GuruFocus.

Bank of America cut its price target on Netflix (NASDAQ:NFLX) to $90 from $105 but kept a Buy rating, arguing that the streaming giant’s valuation remains attractive despite lingering concerns around engagement and slowing growth.

Netflix shares were recently trading near their 52-week low of $65.08 and are down roughly 27% year to date.

BofA said Netflix has become a battleground stock in 2026 as investors debate whether slowing engagement, moderating revenue growth and potential M&A activity could pressure the company’s longer-term outlook.

The latest earnings report did little to settle that debate.