Netflix (NFLX.US) downgraded twice in a week: HSBC cites YouTube competition, Wells Fargo worries about engagement and content strategy.

Zhito Finance APP has learned that HSBC analyst Mohammed Kaloof downgraded streaming giant Netflix (NFLX.US) from "Buy" to "Hold" and cut the target price by 21% to $76. He believes that the growth of Google's (GOOG.US, GOOGL.US) YouTube is coming at Netflix's expense, and Netflix's user engagement seems unlikely to recover in the short term.