Facebook Gets First Downgrade Since Data Scandal

Investing.com - It took more than a month, but a Wall Street firm has downgraded Facebook (NASDAQ:FB) in the wake of its data privacy scandal.
OTR Global lowered its rating from positive to mixed, forecasting lower year-over-year growth in advertising spending .
The research firm expects growth in ad spending to be 19%-24% higher than a year ago, compared to a 30% gain in the fourth quarter.
OTR's is the first downgrade, although several other firms have lowered their stock-price targets for Facebook since the social media giant revealed that Cambridge Analytica had misused the personal data of millions of users.
Facebook shares, which had lost as much as 17% of their value in the wake of the scandal, are down 13% from their February high.
The company reports earnings on April 25.