Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

MoffettNathanson on Tuesday raised its rating on Facebook Inc (FB) from “Neutral” to “Buy”, as it cited “improving underlying fundamentals” and new opportunities for growth that could mitigate regulatory risks.

The firm has assigned a 12-month price target of $210 on the stock.

Facebook shares closed higher for a sixth consecutive trading session on NASDAQ on Tuesday. It has also been the sharpest daily surge since June 7th. The stock went up 1.88% ($3.28) to $178.10, after touching an intraday high at $179.98, or a price level not seen since May 31st ($180.54).

Shares of Facebook Inc have risen 35.86% so far in 2019 compared with a 15.11% gain for the benchmark index, S&P 500 (SPX).

In 2018, Facebook Inc’s stock went down 25.71%, thus, it underperformed the S&P 500, which registered a 6.24% loss.

MoffettNathanson analyst Michael Nathanson believes that Facebook could find big opportunity in messaging and commerce, or two undertakings which do not appear to have been priced in.

The analyst also highlighted the more successful monetization of ephemeral Stories content than initially expected.

Last but not least, Nathanson maintains the view that regulatory risk has been reflected in the current share price, while “antitrust action still seems unlikely given the focus of U.S. courts on proof of consumer harm.”

According to CNN Money, the 43 analysts, offering 12-month forecasts regarding Facebook Inc’s stock price, have a median target of $225.00, with a high estimate of $275.00 and a low estimate of $120.00. The median estimate represents a 26.33% upside compared to the closing price of $178.10 on June 11th.

The same media also reported that 36 out of 48 surveyed investment analysts had rated Facebook Inc’s stock as “Buy”, while 7 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.

Weekly Pivot Levels

By using the traditional method of calculation, the weekly levels of importance for Facebook Inc (FB) are presented as follows:

Central Pivot Point – $169.75
R1 – $178.65
R2 – $183.96
R3 – $192.86
R4 – $201.77

S1 – $164.44
S2 – $155.54
S3 – $150.23
S4 – $144.93

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: AUD/USD trading outlook for February 22ndForex Market: AUD/USD trading outlook for February 22nd Friday’s trade saw AUD/USD within the range of 0.7065-0.7164. The pair closed at 0.7150, shedding 0.10% on a daily basis. It has been the 7th drop in the past 15 trading days and also a second consecutive one. The daily low has been the lowest […]
  • US stocks advance on positive manufacturing dataUS stocks advance on positive manufacturing data U.S. stocks advanced, as Standard & Poor’s 500 Index recovered from its first monthly loss since October, as reports showing improved manufacturing in the U.S. That boosted confidence in the global economy. The reports were in a line with […]
  • GBP/USD managed to hold gains, following upbeat UK retail salesGBP/USD managed to hold gains, following upbeat UK retail sales British pound managed to preserve gained positions against the US dollar, after pulling back from session lows earlier on Thursday, following a report to show UK retail sales increased for a second month in a row during June.GBP/USD […]
  • BP share price up, Q2 profit slumps, cuts planned full-year capexBP share price up, Q2 profit slumps, cuts planned full-year capex British oil and gas company BP Plc reported on Tuesday a sharp drop in second-quarter profit as lower oil prices hit its upstream operations, while the company took a multi-billion charge related to the 2010 Gulf of Mexico oil spill.BP […]
  • Forex Market: USD/BRL daily trading forecastForex Market: USD/BRL daily trading forecast Yesterday’s trade saw USD/BRL within the range of 2.2605-2.2880. The pair closed at 2.2803, gaining 0.16% on a daily basis.At 8:07 GMT today USD/BRL was up 0.06% for the day to trade at 2.2814. The pair touched a daily high at 2.2818 at […]
  • Amazon to deploy first European Rivian vans in GermanyAmazon to deploy first European Rivian vans in Germany Key points Amazon to deploy 300 electric vans from Rivian in several areas across Germany Amazon shares close slightly lower on MondayAmazon.com Inc (AMZN) said on Tuesday that it intended to roll out its first […]