Analysts have been eager to weigh in on the Technology sector with new ratings on Facebook (FB) and Iqiyi (IQ).
Facebook (FB)
Rosenblatt Securities analyst Mark Zgutowicz maintained a Buy rating on Facebook on October 20 and set a price target of $325.00. The company’s shares closed last Wednesday at $278.73, close to its 52-week high of $304.67.
According to TipRanks.com, Zgutowicz is a 5-star analyst with an average return of 46.1% and a 77.6% success rate. Zgutowicz covers the Technology sector, focusing on stocks such as Spotify Technology SA, Criteo SA, and Pinterest.
Facebook has an analyst consensus of Strong Buy, with a price target consensus of $300.15, representing a 7.4% upside. In a report issued on October 8, Cowen & Co. also maintained a Buy rating on the stock with a $320.00 price target.
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Iqiyi (IQ)
Tigress Financial analyst Aaron Ju downgraded Iqiyi to Hold yesterday. The company’s shares closed last Wednesday at $22.94.
According to TipRanks.com, Ju is ranked #810 out of 7011 analysts.
The word on The Street in general, suggests a Hold analyst consensus rating for Iqiyi with a $20.25 average price target, representing a -9.4% downside. In a report issued on October 18, Oppenheimer also maintained a Hold rating on the stock.
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