Facebook Rises as JPMorgan Recommends Looking Past Controversies
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Facebook Inc. extended a three-day winning streak as JPMorgan told clients that a “compelling” valuation and accelerating earnings growth will help the stock move past scandals and controversies.
The firm outlined the reasons why Facebook is one of its “2019 Best Ideas” in a research report on Tuesday. Analysts led by Doug Anmuth said that while investor sentiment “remains negative” amid concerns over data privacy, user metrics remain healthy and the revenue slowdown appears manageable.