UPDATE: Janney Capital Downgrades Facebook On Valuation & Growth Concerns
In a note Wednesday morning, Facebook (NASDAQ: FB) was downgraded from Buy to Neutral with a price target of $82.50.
Janney analyst Tony Wible feels that Facebook's growth will naturally decelerate, bringing valuation concerns in 2015, especially given the strong recent performance of Facebook shares.
Wible goes on to say the company still has tremendous monetization opportunities (video advertising, Instagram, new products) and left his 2015 earnings numbers and price target unchanged even after the downgrade.
Shares of Facebook, which have risen 40 percent year to date, are trading lower by 0.37 percent in the pre-market session at $75.58.
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