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'Too many adversaries': Stifel cuts Facebook to Hold

Published 12/05/2018, 03:25 PM
Updated 12/05/2018, 03:25 PM
© Reuters.  'Too many adversaries': Stifel cuts Facebook to Hold
  • 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?


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