Facebook: Credit Suisse trims target price

(CercleFinance.com) - Credit Suisse has slightly cut its target price for Facebook shares to 325 dollars from 330 dollars, as it modestly lowered its 2021 estimates for the social network giant.


Near term, advertiser checks indicate better-than-expected ad budget growth for both Facebook and Instagram, the broker said, raising its revenue growth forecast for the fourth quarter 2020 to 26%, versus 24% previously.

Credit Suisse said, however, that it now anticipates a slower start to 2021, and has cut its growth expectation for 2021 to 26%, versus its previous forecast of +27%. The broker maintains an "outperform" rating on the stock.

Facebook will report its fourth-quarter results after trading on 27 January.

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