Netflix (NASDAQ:NFLX): Bernstein has downgraded Netflix to Underperform from Market Perform, based on rich valuation, high expectations, growing competition, and diminishing returns on investment. However, the firm raised its price target to $180 from $125 based on sum-of-the-parts valuation.
Demand Media (NYSE:DMD): RBC Capital sees Demand Shares as being undervalued, after its acquisition of Society6. The firm thinks the deal further diversifies Demand Media’s revenue, while Demand Media can accelerate Society6′s growth. The firm keeps an Outperform rating on the shares.
Melco Crown (NASDAQ:MPEL): Melco has been taken to Hold from Buy at Deutsche Bank, which cited demand risks if China’s recovery were to slow down. The firm also lowered its price target for shares to $23 from $26.70.
Catamaran (NASDAQ:CTRX): Jefferies sees the recent pullback in shares for Catamaran as a buying opportunity, as the firm believes that concerns over the company’s ability to meet 2014 consensus estimates are fully priced in at current levels. The firm keeps a Buy rating on the stock, with a $65 price target.
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