Raymond James: Facebook (FB) Stock Is a Buy, Growth Worries and All

FB stock slumps as the social media company warns about second-half growth, but Raymond James remains bullish.

A person looks at the Facebook app on their phone
(Image credit: Getty Images)

Facebook (FB, $373.28) blew past Wall Street's bottom- and top-line estimates when it posted results late Wednesday, yet FB stock slumped Thursday on concerns about decelerating second-half growth as it laps tougher year-over-year comparisons.

But that doesn't affect the long-term investment thesis on the name, insists Raymond James analyst Aaron Kessler, who reiterated his Strong Buy recommendation on Facebook stock and hiked his price target to $450 from $415.

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Dan Burrows
Senior Investing Writer, Kiplinger.com

Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016.

A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. He has written for The Wall Street Journal, Bloomberg, Consumer Reports, Senior Executive and Boston magazine, and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among other publications. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange and hosted a weekly video segment on equities.

Once upon a time – before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily – Dan worked for Spy magazine, scribbled away at Time Inc. and contributed to Maxim magazine back when lad mags were a thing. He's also written for Esquire magazine's Dubious Achievements Awards.

In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics, demographics, real estate, cost of living indexes and more.

Dan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University.

Disclosure: Dan does not trade stocks or other securities. Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts.