KEY POINTS
  • UBS lowers its rating to neutral from buy for Netflix shares, citing the internet company’s high valuation.
  • The firm's analyst finds the stock "less compelling" after its 118 percent rally so far this year.
Netflix Co-founder and Chief Executive Officer Reed Hastings.

UBS is getting less bullish over Netflix shares after the stock’s stunning rally this year.

The firm lowered its rating to neutral from buy for Netflix shares, citing the internet company’s high valuation.