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© Reuters. Pivotal Research lowers its Facebook, Alphabet targets- Pivotal Research Group lowers its Facebook (NASDAQ:) price target from $152 to $138 (a 14% downside to Thursday’s close) and its Alphabet (, ) target from $1110 to $1040 (a 0.8% upside).
- Firm is reviewing its current thoughts on data use in digital advertising ahead of earnings reports.
- Targets lowered to reflect high capital costs primarily due to the higher risk-free rates used in models.
- Facebook target reduced more than peers due to the incremental deceleration in revenue growth towards the end of 2018 and the company’s higher costs.
- Ratings reiterated at Sell for Facebook and Hold for Alphabet.
- Source: Briefing.com.
- Facebook shares are down 1.6% premarket to $158.15.
- GOOG shares are up 0.2% to $1,033.34.
- Previously: Facebook to crack down on non-consensual email targeting (April 1)
- Now read: The Facebook Crystal Ball
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