J.P. Morgan downgraded Blockbuster (BBI Quote) and Netflix(NFLX Quote) to neutral from overweight Friday, noting rising competition in the online DVD arena.
Morgan cited the continuing decline of Blockbuster's stores while applauding a jump in online subscriber growth. The firm believes Netflix could miss subscriber targets for the soon-to-be-reported quarter as competition from Blockbuster rises. The news comes as shares in the companies are on opposing arcs. Blockbuster shares have risen 20% since the Friday before Christmas, while Netflix shares have dropped 20% since the start of December.- Loading Comments...
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