UPDATE: BTIG Upgraded Facebook to Neutral
BTIG upgraded Facebook (NASDAQ: FB) from Sell to Neutral and removed a $16 downside price target.
The firm's Richard Greenfield believes Facebook will "significantly exceed" Q4 Street estimates given increasing ad sales from mobile devices. The analyst warned Facebook is heading toward "serious user experience mistakes" over the long- term as it increases its number of ads.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.