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Fly News Breaks for June 24, 2019
FB
Jun 24, 2019 | 08:31 EDT
Oppenheimer analyst Jason Helfstein remains bullish on Facebook shares ahead of Q2 results. Despite the seemingly ever-present regulation threat, engagement and monetization appear strong, he contends. The analyst notes that agency checks suggest news headlines are having no impact on advertisers client spending, so long as conversion and ROI remain strong. Meanwhile, 3P data remains bullish, suggesting engagement remains healthy, he adds. Lastly, Helfstein points out that a deeper look into CCPA shows that it may have a weaker than expected effect, and thinks Facebook is prepared and should experience less turbulence than previously expected. The analyst reiterates an Outperform rating and $225 price target on the shares.
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