FB - Facebook -2.2% with analysts broadly positive on Q4 earnings
Facebook (FB -2.2%) shares have seen some back-and-forth action in the nearly 24 hours since it reported a beat on its fourth-quarter earnings - down after hours last night, up in morning action today and now selling off with the rest of the market. Both bulls and bears have found something on which to peg arguments: Yet another revenue beat and a new $25B share buyback program, tempered by cautions about "significant" pressure to second-half 2021 numbers. Wall Street firms that were Overweight the stock found a lot to like. KeyBanc raised its price target to $360 from $345 (35% upside implied), saying the report confirmed the fact that monetization is going well and incremental margins still look good. Despite the challenges the company cited, Facebook's likely to sustain double-digit growth this year, KeyBanc says. Jefferies also used the report as ammo for its view of Facebook as a top
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Facebook -2.2% with analysts broadly positive on Q4 earnings