(Reuters) - Crockett downgraded Netflix to "underweight" from "neutral," saying the company, which pioneered online DVD rental and dominates the space with more than 6.8 million subscribers, faces competition from Blockbuster that is "much tougher than we had originally expected."
In April, Netflix lowered its revenue and subscriber growth forecasts for the year as Blockbuster's Total Access plan, rolled out late last year, cut into its subscriber growth.
Read more at Reuters.com Hot Stocks News
In April, Netflix lowered its revenue and subscriber growth forecasts for the year as Blockbuster's Total Access plan, rolled out late last year, cut into its subscriber growth.
Read more at Reuters.com Hot Stocks News
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