Facebook: S&P Capital IQ Repeats Sell, Cuts Ests

S&P Capital IQ analyst Scott Kessler this morning repeated his Sell rating on Facebook shares, while cutting his EPS estimates. He also reduced his price target on the social network’s stock to $27, from $30.

The analyst now sees 2012 profits of 39 cents a share, down from 40 cents. For 2013, he goes to 58 cents, from 62 cents. And for 2014, he now sees 83 cents, down from 92 cents.

“We expect negative news flow to subside somewhat, but still see adverse issues related to fundamentals, risks and valuation,” he writes in a brief research note.

FB today is down $1.09, or 3.9%, to $27.10. The stock is down $10.90, or 28.7%, since the company came public earlier this month at $38.

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