Analysts: Buy Facebook on Pullback and 3 More Research Notes to Look Into
Facebook (NASDAQ:FB): Piper Jaffray sees the recent share pullbacks, amounting to about 19 percent, as a buying opportunity. Piper attributes the sell-off to expectations that ad growth rates will decelerate in the June quarter and reports suggesting Facebook’s momentum among teens is slowing, but the firm believes that the shares can rebound. Shares are Overweight rated, with a $38 price target.
IBM (NYSE:IBM): RBC Capital sees IBM’s acquisition of SoftLayer as a positive, and that the deal should help IBM generate $7 billion in revenue from the cloud by FY15. The acquisition improves IBM’s competitive positioning against cloud players such as Rackspace and AWS according to the firm, but it still keeps a Sector Perform rating on the shares.
Callaway Golf (NYSE:ELY): Early, aggressive seasonal promotions by competitor TaylorMade and Callaway’s increased promotional response have led Wedbush to downgrade shares of the company, from Outperform to Neutral. The firm also lowered its estimates below consensus and reduced its price target to $7 from $8.
Intuitive Surgical (NASDAQ:ISRG): SunTrust points out that its checks confirm that Intuitive Surgical has resumed shipments of a new updated version of its Monopolar Scissors, and believes the impact from the urgent notification and the ceasing of shipments that has been in place for three weeks has been minimal. It keeps the shares rated at Buy, with a $647 price target.