Facebook: Canaccord a buyer; sees 'opportunity'
(CercleFinance.com) - Canaccord Genuity recommends investors buy Facebook shares, with a target price of 240 dollars, following the stock's 14% fall last week amidst a wave of concerns around privacy and data security.
"Sometimes, market dynamics give investors a chance to buy strong companies at a discount, when stocks get marked down due to news or events that are unlikely to make a big difference over the long term," the Canadian broker wrote in a research note.
"We believe the events of last week are likely to continue playing out in the press with minimal mid-term impact on Facebook's business, and we suspect this will prove to be an attractive entry point for the stock," it said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"Sometimes, market dynamics give investors a chance to buy strong companies at a discount, when stocks get marked down due to news or events that are unlikely to make a big difference over the long term," the Canadian broker wrote in a research note.
"We believe the events of last week are likely to continue playing out in the press with minimal mid-term impact on Facebook's business, and we suspect this will prove to be an attractive entry point for the stock," it said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.