The coronavirus hasn’t spared the mega-caps, and social media giant Facebook is a case in point. Among its FAANG peers, year-to-date, Facebook (FB) has suffered the most, shedding 24% of its value. Should the sharp pullback raise concern among investors? Not at all, says SunTrust Robinson’s Youssef Squali. Despite the new macro environment’s impact on future estimates and a recent price target reduction, the 5-star analyst maintains that FB remains in good health. As a result, Squali reiterated his Buy rating, although as mentioned, the price target gets a haircut – down from $265 to $230. From current levels, the …read more
Source:: Yahoo Finance
