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# HSBC downgrades Netflix as YouTube eats into engagement
- URL: https://www.medianexis.com/hsbc-downgrades-netflix-as-youtube-eats-into-engagement/
- Published: 2026-09-25T21:59:35.000Z
- Updated: 2026-09-25T21:59:35.000Z
- Description: TheWrap’s Lucas Manfredi reports HSBC’s Mohammed Khallouf cut Netflix from Buy to Hold and slashed his price target from $96 to $76, citing YouTube’s expanding living room footprint and Netflix’s U.S. TV time share falling to 7.8% in July.
- Author: The Signals Desk
- Tags: Streaming, Lucas Manfredi, HSBC downgrades Netflix as YouTube eats into engagement

**Why it matters.** Netflix now needs a breakout original hit to reverse the engagement slide that two Wall Street analysts have tied directly to its falling stock price.

*Signal from* [*thewrap.com*](https://thewrap.com/?ref=medianexis.com) *·* [*Lucas Manfredi*](https://www.medianexis.com/tag/by-lucas-manfredi/) *·* [*read the original*](https://www.thewrap.com/industry-news/business/netflix-stock-wells-fargo-hsbc-downgrade-engagement-trends-youtube-competition/?ref=medianexis.com)*.*