Facebook Analysts Look Past Outlook Miss to Long-Term Growth
- Rosenblatt upgrades shares, seeing attractive value after drop
- Concerns around Apple’s policy may be priced in, analysts say
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Facebook Inc. analysts and investors are holding to their positive views of the social-media company’s long-term prospects, even as shares fell following a tepid quarterly report and additional reports of hate speech and misinformation on the platform.
More than 80% of analysts tracked by Bloomberg recommend buying Facebook stock, with Rosenblatt Securities joining the chorus on Tuesday with an upgrade following the latest report. While acknowledging near-term headwinds, notably an Apple policy that restricts data collection on iPhones, firms continue to see a positive long-term growth story, along with a valuation that appears more attractive following recent losses.