JP Morgan Sees Opportunities In Facebook, Priceline, Netflix, Pandora Following Recent Sell-Off

With the NASDAQ now down more than 5 percent from the high set in early March, investors and analysts alike are looking for opportunities in the Tech space. JP Morgan's Doug Anmuth is specifically looking at the Internet space, and, in a research note published Wednesday morning, pointed at possible opportunities in Facebook
FB
, Priceline
PCLN
, Netflix
NFLX
and Pandora
P
. Anmuth told investors to watch out for "companies with continued strong fundamentals and growth potential ahead." He noted "Most of our discussions with investors point to initial concerns around rising interest rates, but quickly turn toward positioning and valuation." The JP Morgan analyst maintains Overweight ratings on Facebook, Priceline, Netflix and Pandora. He has an $80 target on shares of Facebook, a $1,450 target on Priceline, a $500 target on Netflix, and a $41 target on shares of Pandora. The sentiment laid out by Anmuth on Wednesday sounds similar to a
call made by Stifel analysts on Tuesday. Of the four, shares of Pandora are leading the move lower, down nearly 25 percent since early March. Netflix shares are down about 22 percent over the same period, while shares of Facebook and Priceline are down about 10 percent.

Posted In: Analyst ColorNewsAnalyst Ratings

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.