Market Overview

UPDATE: Jefferies Downgrades Facebook to Hold on Expense Outlook

Share:
Related FB
Facebook Launches Creator App, Eyes More Video Content
Your Tech ETF Could Lose Some Of Its FANGs
Tracking David Tepper's Appaloosa Management Portfolio - Q3 2017 Update (Seeking Alpha)

Jefferies downgraded Facebook (NASDAQ: FB) from Buy to Hold and lowered the price target from $32.00 to $30.00.

Jefferies noted, "We are downgrading FB to Hold as management warns of significantly higher expense levels in 2013 as a result of aggressive hiring and investment plans. While we are broadly supportive of Facebook's longer-term strategy, the material increase in 2013 spending pressures valuation, making the stock less attractive to own on a near-term basis, in our opinion."

Facebook closed at $31.24 on Wednesday.

Latest Ratings for FB

DateFirmActionFromTo
Nov 2017Canaccord GenuityMaintainsBuy
Nov 2017Credit SuisseMaintainsOutperform
Nov 2017OppenheimerMaintainsOutperform

View More Analyst Ratings for FB
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Downgrades Analyst Ratings

 

Related Articles (FB)

View Comments and Join the Discussion!

Partner Center