FB - Facebook shares gain after BMO upgrade as targeting headwinds pass

Apple's App Tracking Transparency prompt rollout includes limitations on identifiers for advertisers, which removes Facebook's (FB) "headwinds from targeting," according to BMO analyst Daniel Salmon, upgrading Facebook (FB) from Market Perform to Outperform.Salmon: "From here, we expect vertical integrationfor eCommerce (Payments, Shops, Marketplace, etc.) and more server to server integrations for advertising (e.g. re-worked Conversions API) to help drive a narrative about FB having greater control over its revenue destiny "The analysts still sees potential political and antitrust headwinds, but sees the issues as priced in after FB's recent pullback.Price target moves from $270 to $325, a 29% upside to the last close.Facebook shares are up 2% pre-market to $256.24.Last year, Facebook said Apple requiring users to opt-in to share their identifier with advertisers could cut its Audience Network revenue by more than half.

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Facebook shares gain after BMO upgrade as targeting headwinds pass