Investing.com-- Seaport Research downgraded its rating on Netflix Inc (NASDAQ: NFLX ) to Neutral, stating that while the company’s long-term valuation appeared positive, it required more time to execute for these expectations.

Seaport downgraded Netflix to Neutral from Buy.

The brokerage said that there appeared to be a new push at Netflix to capture more consumer media usage time, which could in turn reduce churn and increase overall viewership and advertising revenue at the firm by 2023.

Seaport sees greater price increases by Netflix globally by 2023, and sees an additional 40% increase in Netflix’s advertising revenue by that year.

“We are increasing our long-term valuation views, but the average of our approaches would suggest <10% upside from here,” Seaport analysts wrote in a Sunday note.

“We believe that plenty of the long-term opportunity set is factored into the shares at this price, and the company needs time to execute against the expectations in advertising, aggregating, launching experiences, and expanding share again.”

Netflix will report its second-quarter earnings on July 17, with the video streaming giant expected to have clocked strong viewership growth.

The company is now expected to push further into live sports streaming and other live television content, after its move to aggressively expand live content yielded strong returns in recent years.

The streaming giant appears to have persevered despite competing streaming services from Wall Street majors including Amazon (NASDAQ: AMZN ), Apple (NASDAQ: AAPL ), Disney (NYSE: DIS ), and Warner Bros.