FB: Facebook cut from Strong Buy at Raymond James

Facebook cut from Strong Buy at Raymond James • 7:49 AM

• RayJay's Aaron Kessler - who banged the drum for Facebook (FB) with an upgrade to Buy in January and an upgrade to Strong Buy in April (at prices well south of today's) - cuts his rating back to Buy following the big run in the stock price.
• Kessler says his bullish thesis on the company is playing out as expected, but today's high valuation merits the downgrade.
• Shares off 1.2% premarket.

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FB price at time of publication: $51.04. Check FB price now »

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