Facebook gets sell rating from Societe Generale

SAN FRANCISCO (MarketWatch) — Analysts at Societe Generale on Friday initiated coverage of Facebook Inc. FB, +0.24% with a sell rating and started Google Inc. GOOG, +1.21% at a buy. “There is a lot to like about Facebook, but we believe the market has overlooked the investment pressure stemming from the proliferation of mobile apps,” said analyst Simon Baker in a note. Google, on the other hand, is well positioned to face the challenges of maintaining its growth momentum. The analysts also initiated Netflix Inc. NFLX, +2.20% at a buy, citing its global audience and its ability to reinvest U.S. profits in international operations. All three stocks were trading higher with Facebook up 0.4%, Google gaining 1.2%, and Netflix adding 1.2%.

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