Facebook headlines not hurting engagement on platform, says Jefferies
Jefferies analyst Brent Thill lowered his price target for Facebook to $215 from $230 reflect higher operating expenses. The analyst, however, keeps a Buy rating on the shares after analyzing Facebook's traffic over the course of March. Recent headlines around the company's data policies have not meaningfully impacted engagement on the platform, Thill tells investors in a research note titled "Data Shows Friends Don't Let Friends Leave Facebook." The analyst sees opportunity for long-term investors with Facebook shares currently trading at 18 times 2019 earnings estimates. Thill views the stock's current valuation as "compelling." He cautions, however, that near-term headline risk and Europe's data protection regulations could weigh on investor sentiment.