Netflix Faces Analyst Downgrade as Competitors Increase

CNNMoney: Evercore ISI analyst Ken Sena has downgraded Netflix to a “sell” – a bold call. Most analysts don’t dare to cut companies to anything lower than a “hold.” Why the change of heart? Sena is concerned that there is an “intensifying competitive environment necessitating increased investment with uncertain return.” Translation: Netflix is not the only streaming game in town. It’s going to have to keep paying up for content — and that could be expensive.