Google & NYSE Owner Downgraded, Strong Start for Facebook

Google (GOOG) and Intercontinental Exchange (ICE) downgraded but strong start for Facebook (FB) in Friday's Analysts' Actions. Bank of America/Merrill Lynch downgraded Google from BUY to NEUTRAL with a price target cut to $580 from $600. The firm says it can no longer 'make a strong case for multiple expansion.' Facebook is now being covered at MKM Partners with a BUY rating. The firm set its price target at $105, that's an upside potential of 40% from the stock's previous close. MKM says the social media giant 'has become the most pervasive media outlet in history.' Citigroup cut its rating for Intercontinental Exchange to NEUTRAL from BUY. Despite the downgrade, Citi raised its price target by $14 to $240. The firm says 'while we do see opportunities to drive revenue ahead, Intercontinental Exchange's year-to-date under-performance is now less pronounced and the risk/reward is less attractive, in our view.'