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Netflix Falling After Downgrade from Morgan Stanley

 (Image source: digitaltrends)

Shares of Netflix, Inc. (NASDAQ:NFLX) are down 4 percent this morning on a downgrade from Morgan Stanley. The video streaming provider was downgraded to underweight from equalweight on increase competition from the likes of Hulu Plus, Amazon Prime Instant Video, and HBO GO. According to Morgan, the increase competition will slow down subscription growth and increase marketing costs for Netflix. As a result, the price target was decreased to $310 a share from $333 a share.