Market Overview

UPDATE: BMO Capital Markets Downgrades Facebook to Market Perform; Catalysts to Stock Lacking

Related FB
Citi Raises Price Target On Facebook, Says Instagram Is Worth $35 Billion
Why Teenagers Don't Find Facebook 'Cool' Or 'Safe' Anymore
Stop Retailers From Stalking You Online (Fox Business)

BMO Capital Markets downgraded Facebook (NASDAQ: FB) from Outperform to Market Perform and maintained a $32.00 price target.

BMO Capital Markets said, "We don't like moving around ratings this quickly, and we thought the quarter was perfectly fine; however, we don't yet have the thesis to raise our target into the mid- to high-$30s. Moreover, contrary to consensus, we do not think 2013 stock performance will be dictated by “mobile monetization”; rather, we think that has driven the stock's move over the past two to three months and in-line mobile results this quarter suggest that catalyst is complete (for now). For FB stock to go higher, we believe new catalysts must emerge."

Facebook closed at $31.24 on Wednesday.

Latest Ratings for FB

DateFirmActionFromTo
Dec 2014CitigroupMaintainsBuy
Dec 2014MKM PartnersInitiates Coverage onBuy
Nov 2014Hilliard LyonsInitiates Coverage onLong-term Buy

View More Analyst Ratings for FB
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Downgrades Analyst Ratings

 

Related Articles (FB)

Around the Web, We're Loving...

Get Benzinga's Newsletters