Buy Facebook and Google, but hold off on Amazon, Bernstein says

A worker assembles a box for delivery at the Amazon fulfillment center in Baltimore, Maryland, April 30, 2019

Clodagh Kilcoyne | Reuters

Facebook and Google are among the best bets among internet stocks, but slowing retail growth and regulatory issues should make investors cautious about Amazon, investment firm Bernstein said in note Thursday.

Bernstein initiated coverage of Facebook, Uber, Snap, and Google’s parent company Alphabet with outperform ratings in its new note looking at internet stocks.

Twitter was the only stock to get an underperform rating, while Amazon, Lyft and Pinterest received a rating of market perform.

This makes Bernstein one of the few firms that is not bullish on Amazon. The tech giant had buy or overweight ratings from 96% of its analysts before this initiation, according to FactSet.

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