Snap Falls After Jefferies Cuts Price Target [MSN Money]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: MSN Money
Snap Falls After Jefferies Cuts Price Target on Outlook for Ads, Users Snap shar fell on Wednday, retreating from a rect rally after Jefferi trimmed its price target by $ to $7. The stock dropped 5.5 perct, its biggt one-day decline since Dec. 0. The social media company is coming off a three-day rally, a stretch over which it gained more than perct, and its longt such streak since November. At currt levels, the stock is down more than 70 perct from a February 08 peak. © Bloomberg Jefferi’ cut target com on “greater uncertainty around the global advertising picture in 09 and 00.” The firm kept its hold rating, but also lowered its target on Facebook Inc. to $80 from $00, and on Twitter Inc. to $ from $5. “We are lowering our user timat for each platform as they take health and safety initiativ into 09,” analyst Brt Thill wrote to clits. “We continue to believe that FB is bt positioned at currt valuations and see upside for Snap if they can follow some easy steps to clarify the story
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