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    Tuesday, November 24, 2009

    Netflix Cut To Underperform By Wedbush Morgan

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    By Dan Gallagher
    MarketWatch Pulse
       

      SAN FRANCISCO -- Netflix Inc. was downgraded to an underperform, or sell, rating by Wedbush Morgan Tuesday morning. In a note to clients, analyst Michael Pachter says while the company's performance has been "solid," the stock's current price "reflects investor expectations for growth well above what can be reasonably expected." Netflix shares have doubled since the first of the year to hit an all-time high above the $60 mark earlier this month. The stock was trading down 2.6% at $58.80 on Tuesday morning.

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