Cowen Speculative on Facebook (FB) Video Metrics 'Inflation' News; Affirms at Outperform

September 23, 2016 2:16 PM EDT
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Cowen and Company affirms Facebook (Nasdaq: FB) with an Outperform rating and $150 following news that the company may have offered inflated video metrics to advertisers.

The firm commented today, In our view, this looks like a story in search of a controversy. We have every reason to expect that FB treats its metrics and definitions as sacrosanct and that this is a case of clarification versus an attempt to mislead advertisers. Perhaps most importantly, we don't think this disagreement alters the rising importance of FB in advertiser budgets.

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