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Fly News Breaks for March 18, 2019
FB
Mar 18, 2019 | 08:49 EDT
BofA/Merrill analyst Justin Post lowered his price target on Facebook to $187, saying the company is faced with more "uncertainty" after its CEO Mark Zuckerberg disclosed a vision that is more sensitive to investors' privacy concerns. The analyst questions whether the subsequent departures of Facebook's Chief Product Officer Chris Cox and the head of WhatsApp development Chris Daniels were related to the management's evolving vision, adding that the company's 3-year growth trajectory may be altered by its "more privacy centric platform". Post also keeps his Buy rating on Facebook.
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