Bernstein Reaffirms Netflix Outperform at $110 Amid Eighth-Day Selloff

Netflix shares closed at $81.21 on June 3 after a 2.6% drop, extending an eight-day losing streak—the longest since 2022—and a 25% decline from the April high. Technicals remain bearish with the stock below all key moving averages and critical support at $80.51. Offsetting the pressure, Bernstein SocGen reiterated its Outperform rating and $110 target on June 4, citing a “messy near-term narrative, but a durable engine,” while options traders positioned for further weakness via a July bear-put spread.