Investors should buy Facebook because its sales growth will top expectations in the coming year, according to JPMorgan, which reiterated its overweight rating and made the internet company one of its "best ideas" for 2017.
Facebook shares are down 6 percent from their all-time high in October through Monday's close.
"In our view a number of concerns have contributed to the recent wall of worry including potential for meaningful revenue deceleration [and] slowing ad load growth," analyst Doug Anmuth wrote in a note to clients Tuesday. "However, we believe these fears are largely overdone and continue to create a good buying opportunity. ... [We reiterate] FB as our top large-cap pick."