Facebook (FB) PT Raised to $120 at Pivotal Research Following 4Q
Pivotal Research analyst Brian Wieser raised the price target on Facebook (NASDAQ: FB) to $120.00 (from $113.00) while maintaining a Sell rating following the company's 4Q earnings report. Results were good for the current quarter on revenue, profit and cashflow vs. expectations, although nothing in the results caused Pivotal Research to meaningfully alter their longer-term view on the business and the stock.
Looking forward, guidance for 2019 was consistent with previously established expectations, including revenue growth deceleration at a mid-single digit rate in 1Q and then ongoing deceleration for the rest of the year, all on a constant currency basis.