Market Overview

UPDATE: Citigroup Upgrades Facebook to Buy on Strong Q3 Results

Related FB
The Next 5 Years For Consumer Internet Stocks Could Be 'The Golden Years' For Mobile
Benzinga's Top Upgrades, Downgrades For March 29, 2017
Stocks Mixed; Vertex Spikes, FANGs Get Overweight Rating (Investor's Business Daily)

Citigroup raised its rating on Facebook (NASDAQ: FB) from Neutral to Buy but reduced its price target from $35 to $30.

Citigroup commented, "What investors have for the first time since the FB IPO is fundamentals acceleration WITH a reasonable valuation (30 P/E for 30% EPS growth). Further, two of the biggest FB risks (Zynga dependency and Mobile monetization) appear to have been down-sized. And we've still seen zero contribution from newer initiatives, eg gifts, FBX, etc. Yes, lockups loom, but we believe long-term investors can use weakness around said lockups as a way to leg into a fundamentals positive/valuation reasonable long."

Facebook closed at $19.50 on Tuesday.

Latest Ratings for FB

Mar 2017BarclaysInitiates Coverage OnOverweight
Mar 2017BTIG ResearchUpgradesNeutralBuy
Feb 2017Pivotal ResearchDowngradesBuyHold

View More Analyst Ratings for FB
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings


Related Articles (FB)

View Comments and Join the Discussion!