Facebook: Wedbush downgrades stock
(CercleFinance.com) - Wedbush has downgrade the Facebook stock from "outperform" to "neutral", while cutting its corresponding target price from 375 dollars to 340 dollars, balanced between " commerce initiatives and the headwinds from stronger privacy standards".
The broker considers the social network giant as "the most exposed to privacy risks, particularly around Apple's App Tracking Transparency (ATT) efforts that will limit the Identifier for Advertisers".
"In our view, Facebook has been the strongest digital ad platform at effectively tracking and targeting users across the web and has the most to lose from losing signal with more limited tracking capability," it says.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The broker considers the social network giant as "the most exposed to privacy risks, particularly around Apple's App Tracking Transparency (ATT) efforts that will limit the Identifier for Advertisers".
"In our view, Facebook has been the strongest digital ad platform at effectively tracking and targeting users across the web and has the most to lose from losing signal with more limited tracking capability," it says.
Copyright (c) 2021 CercleFinance.com. All rights reserved.