- Management at Facebook (NASDAQ:FB) has "created too many adversaries" for the business not to suffer long-term consequences, Stifel Nicolaus says in downgrading the company to Hold from Buy.
- That includes making opponents out of politicians, tech executives, consumers and employees, writes analyst Scott Devitt. (h/t Bloomberg)
- "We believe Facebook will struggle to return to the company it once was or that investors expected it to be in the long run," Devitt says; he prefers other FANGs like Amazon.com (NASDAQ:AMZN), Netflix (NASDAQ:NFLX) and Alphabet (NASDAQ:GOOGL).
- Stifel maintains a $150 price target, implying 8.8% upside.
- Previously: Facebook board backs COO Sandberg on Soros approach (Dec. 05 2018)
- Previously: Facebook details strident response after UK document release (Dec. 05 2018)
- Previously: Facebook fights back on "cherrypicked" documents (Dec. 05 2018)
- Previously: UK releases Facebook mails addressing prospect of selling data (Dec. 05 2018)
- Now read: Wall Street Breakfast: Santa Rally Stuck In The Chimney?
Original article