History Says Buy the Dip in Facebook (FB) - Deutsche Bank

November 3, 2016 11:05 AM EDT
Get Alerts FB Hot Sheet
Price: $127.04 -0.4%

Rating Summary:
    49 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Deutsche Bank maintained a Buy rating on Facebook (NASDAQ: FB) but lowered its price target to $150.00 (from $170.00). Shares declined following Q3 results, but analyst Ross Sandler noted that history suggests buying the dip.

"FB reported revenue/EPS that were 0.6%/10% above our estimates, and tad below buyside expectations. Stepping back from the metrics, the continued battering of cautious commentary on 2017 is understandable given FB’s history, but these down-drafts are usually good buying opportunities, and FB’s forward P/E has already imploded. Our extensive checks haven’t pointed to any “meaningful” deceleration expected next year, but the lack of Messenger/WhatsApp revenue could create a small air-pocket in 2017. We’ve reduced our estimates modestly," said Sandler.

For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.

Shares of Facebook closed at $127.17 yesterday.

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