Facebook (FB) PT Lowered to $125 at BMO Capital
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BMO Capital analyst Daniel Salmon reiterated a Market Perform rating and lowered his price target on Facebook (NASDAQ: FB) to $125.00 (from $145.00) following results.
Salmon commented, "After noting a leveling off in ad load growth in 2H17 on last quarter's call, this quarter's forward comments noted a "material" ad revenue growth rate deceleration in 2017. Moreover, comments about continued investment next year have investors trying to interpret whether these two comments are simply statements of the obvious, or intended to tap down consensus expectations. In particular, we expect investors to continue examining the need to grow spending/ad revenue sharing for premium content if the video ad business is going to challenge for TV budgets."
Shares of Facebook closed at $127.17 yesterday.
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