Netflix downgraded to In-Line from Outperform at Imperial Capital

Imperial Capital analyst David Miller downgraded Netflix (NFLX) to In-Line from Outperform with an unchanged price target of $489.

The stock closed Thursday down $8.75 to $476.89.

The shares are up over 50% since January 2, Miller tells investors in a research note. As a result, the analyst sees only an additional 2.5% upside in Netflix.

He cites valuation for the downgrade to In-Line.