Facebook (FB) PT Trimmed to $150 at UBS
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UBS analyst Eric Sheridan reiterated a Buy rating but trimmed his price target on Facebook (NASDAQ: FB) to $150.00 (from $155.00) following results.
Sheridan commented, "Facebook's Q3 earnings report & call presented two very different pictures and quickly resulted in the stock pricing in the worst-case read. On the results themselves, Facebook (again) demonstrated a consistency in ad revs strength (+59% F/X-neutral) & a meaningful margin beat (despite medium/long-term investments). However, mgmt commentary on both forward revenue trends & future investment cadence left investors with open questions on 2017 that are unlikely to be resolved over the near-term. That said, with continued solid user growth, stable engagement & successful iteration on the ad product side, we believe Facebook remains poised as a key long-term holding for investors (now pricing in very negative sentiment on forward trends). In addition, while caution will carry the day, our advertiser conversations (focused on 2017) do not paint a picture much different than our pre-Q3 forward ad rev estimates."
Shares of Facebook closed at $127.17 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
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