Pivotal Research Downgrades Facebook (FB) to Hold; Dead Money

January 7, 2013 3:20 PM EST
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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Pivotal Research downgraded Facebook (NASDAQ: FB) from Buy to Hold with a price target of $30.00 (from $30.00).

The firm comments, "Changes to our recommendation on Facebook primarily reflect the absence of change in our view on the stock given its recent run-up towards the $30 target we set in October. While we derive this target with more conservative long-term assumptions the company's long-term top-line prospects, these are offset by a slightly reduced cost of capital. But regardless of the quasi-academic nature of this approach, $30 feels to us like the right level for the stock to end 2013."

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 $28.76 yesterday.

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