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Fly News Breaks for June 17, 2019
FB
Jun 17, 2019 | 08:50 EDT
SunTrust analyst Youssef Squali keeps his Buy rating and $215 price target on Facebook ahead of its Libra currency currency initiative White Paper release tomorrow and launch next year, with recent press reports suggesting that over a dozen large financial institutions have partnered with the company into the launch. The analyst notes that while no details have been leaked yet, this is a "major initiative" for the company as it would "materially" expand its growth prospects and total addressable market. Squali also states that the crypto foray is a "strong indicator" of Facebook's "intent to become a transactional platform."
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