Societe Generale: Facebook Headed For Face Plant?

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Facebook Inc FB shares could be ready for a face plant, according to analysts at Societe Generale who launched coverage on the social media juggernaut Thursday with a Sell rating and $60 target.

Facebook shares have fallen nearly 5 percent in the past month, although its market cap is a healthy $214.71 billion.

Facebook closed Thursday at $77.65, up 1.19 percent.

Forty-one analysts tracked by FactSet Research rate Facebook at Buy or Overweight; one rates the company at Hold and none at Sell.

Societe analysts also initiated coverage with Buy ratings on both Google Inc GOOGL and Netflix, Inc. NFLX, with targets of $615 and $480, respectively.

Google closed at $537.30, up 3.25 percent, and Netflix at $428.44, up 4.68 percent.

Rupert Murdoch's Twenty-First Century Fox Inc FOX, CBS Corporation CBS and Viacom, Inc. VIA each got initiated at Hold.

Fox, with a Societe target of $36, closed at $33.38, up 2.25 percent.

CBS targeted at $60, closed Thursday at $56.73, up 0.96 percent, while Viacom, with a $75 target, closed at $68.81, up 1.67 percent.

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Posted In: Analyst ColorInitiationAnalyst RatingsSociete Generale
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