Facebook (FB) PT Lowered to $270 at BMO Capital

BMO Capital analyst Daniel Salmon lowered the price target on Facebook (NASDAQ: FB) to $270.00 (from $275.00) while maintaining an Outperform rating.

The analyst commented, "The eCommerce surge and recovery in ad demand drove 3Q revenue upside and 4Q is expected to accelerate further. But as 2021 approaches, the crest of targeting headwinds appears in 1Q (mgmt. acknowledged IFDA will impact O&O app installs; key question: will Android follow?), Stories ad load growth should ease, and margin pressure continues. New initiatives like server to server integration can add durability to the ad model and we continue to be optimistic on eCommerce long-term. But we remain Market Perform and think increased caution is warranted."

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