JP Morgan Sees Opportunities In Facebook, Priceline, Netflix, Pandora Following Recent Sell-Off
With the NASDAQ now down more than 5 percent from the high set in early March, investors and analysts alike are looking for opportunities in the Tech space. JP Morgan's Doug Anmuth is specifically looking at the Internet space, and, in a research note published Wednesday morning, pointed at possible opportunities in Facebook (NASDAQ: FB), Priceline (NASDAQ: PCLN), Netflix (NASDAQ: NFLX) and Pandora (NYSE: P).
Anmuth told investors to watch out for "companies with continued strong fundamentals and growth potential ahead." He noted "Most of our discussions with investors point to initial concerns around rising interest rates, but quickly turn toward positioning and valuation."
The JP Morgan analyst maintains Overweight ratings on Facebook, Priceline, Netflix and Pandora. He has an $80 target on shares of Facebook, a $1,450 target on Priceline, a $500 target on Netflix, and a $41 target on shares of Pandora.
The sentiment laid out by Anmuth on Wednesday sounds similar to a call made by Stifel analysts on Tuesday.
Of the four, shares of Pandora are leading the move lower, down nearly 25 percent since early March. Netflix shares are down about 22 percent over the same period, while shares of Facebook and Priceline are down about 10 percent.
Latest Ratings for FB
|Nov 2014||Hilliard Lyons||Initiates Coverage on||Long-term Buy|
|Nov 2014||Morgan Stanley||Initiates Coverage on||Overweight|
|Oct 2014||Tigress Financial||Upgrades||Neutral||Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.