Facebook has four bear calls on Wall Street now that Pivotal Research has downgraded the social-media icon to sell.
The firm also cut its price target to $180 a share from $215. The Wall Street low is $177. The average price target on Wall Street is about $246 a share, Bloomberg data show.
The Menlo Park, Calif., company is coming off disappointing fourth-quarter results, which were pressuring the stock, and analyst Michael Levine doesn’t see those issues abating anytime soon.