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Netflix (NFLX) Stock Slides on 'Sell' Rating

NEW YORK (TheStreet) -- Shares of Netflix (NFLX) were down in pre-market trading on Monday after Axiom initiated coverage with a "sell" rating and $80 price target on the stock.

The Los Gatos, CA-based video streaming service is contending with heightening competition and declining pricing power, the firm wrote in a note cited by TheFly.

Higher content costs will negatively impact Netflix's ability to meet consensus estimates, Axiom added.

Separately, TheStreet...