Facebook Inc Gets a Buy Rating from Wells Fargo

By Carrie Williams

In a report released yesterday, Ken Sena from Wells Fargo reiterated a Buy rating on Facebook Inc (NASDAQ: FB), with a price target of $230. The company’s shares closed yesterday at $155.10.

Sena said:

“We also reiterate our Outperform recommendation on shares. Updated Terms and Conditions and Data Policy offer clearer view of current practices. In the first of two press releases today, FB issued a revised set of user Terms and Conditions and Data Policy, making clear that the new documents neither asked for any new user permissions, nor made any changes to users’ existing privacy setting choices made through the use of its family of products. Instead the revised policy offered a more detailed explanation as to what types of data FB collects across its family of products as well as a clearer expression of how the data is used to offer users a personalized product experience and advertisers the opportunity to more accurately target their messages to prospective consumers. In closing, the release offered that FB would be collecting feedback over the next 7 days, with goal of presenting the full revisions that will require user consent.”

According to TipRanks.com, Sena is a 4-star analyst with an average return of 9.2% and a 55.0% success rate. Sena covers the Services sector, focusing on stocks such as Booking Holdings Inc, TripAdvisor Inc, and Alibaba Group.

Currently, the analyst consensus on Facebook Inc is Strong Buy and the average price target is $221.38, representing a 42.7% upside.

In a report issued on March 20, Merrill Lynch also maintained a Buy rating on the stock with a $265 price target.

Facebook Inc’s market cap is currently $450.7B and has a P/E ratio of 28.75. The company has a book value ratio of 6.0624.

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