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Fly News Breaks for April 26, 2018
FB
Apr 26, 2018 | 05:28 EDT
Piper Jaffray analyst Sam Kemp says Facebook last night reported 4% upside to Q1 Street revenue and 17% upside to operating income. Incremental news around impacts from the recent Cambridge Analytica situation were nil and, alongside management commentary downplaying Europe's General Data Protection Regulation impact, will likely "accelerate the fading relevance of these topics from investor focus," Kemp tells investors in a post-earnings research note. He believes this will ultimately return the Facebook narrative to "that of strong topline growth and an attractive valuation." Kemp keeps an Overweight rating on Facebook with a $210 price target.
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