CEO Mark Zuckerberg gave his first interview since Facebook went public on Tuesday and responded to criticism about the missteps in its mobile strategy and the sharp drop in the stock price. While investors appeared to like what they heard, one analyst has slashed his price target on the stock.
Ken Sena, an analyst at Evercore Partners, reduced its price target on Facebook shares to $23 from $34. Sena has an “equal weight” rating on the stock.
“He was excited in the project road map, he showed candor about the missteps they made around mobile and I think he showed a willingness to accept where maybe they needed to sort of reassess and redeploy and that they could do it quickly,” Sena said of the interview. “I think in that respect, the interview went very well.”