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Facebook Inc (NASDAQ: 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.
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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 (NASDAQ: GOOGL) and Netflix, Inc. (NASDAQ: 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 (NASDAQ: FOX), CBS Corporation (NYSE: CBS) and Viacom, Inc. (NASDAQ: 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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.