By: Benzinga
January 31, 2013 at 11:15 AM EST
UPDATE: Stifel Nicolaus Downgrades Facebook to Hold on Heavy Investment Phase
Stifel Nicolaus downgraded Facebook (NASDAQ: FB ) from Buy to Hold and removed a $31.00 price target. Stifel Nicolaus said, "We have reduced our rating on shares of FB from Buy to Hold. Facebook reported what we view as solid 4Q12 results; ad revenue growth accelerated to 43% ex-FX.
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