Netflix (NFLX -0.4%) underperforms after Evercore starts coverage with an Underweight and $115...


Netflix (NFLX -0.4%) underperforms after Evercore starts coverage with an Underweight and $115 PT. The firm thinks the launch of Intel's Web TV service will lead to higher programming costs and less pricing power. Intel's service is being pitched as an alternative to traditional pay-TV services rather than a direct Netflix rival, and will undoubtedly cost much more than the $8/month charged for Netflix.

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