KeyBanc sees ads upside for Pinterest, Google, Facebook, Twitter

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26/10/2020 12:46

** KeyBanc says advertising is the second derivative to
e-commerce, continues to see robust ad spend in H2 2020 for
Pinterest  PINS.N , Google parent Alphabet  GOOGL.O , and social
media giants Facebook  FB.O  and Twitter  TWTR.N     
    ** Says higher est drive PT raises for PINS and FB
    **  Holds "overweight" ratings on FB, GOOGL, and PINS on
view that cos that focus more on performance advertising have
more durable growth
    ** Raises PINS PT by 36% to $60; hikes FB's by $10 to $340,
a 13% upside to median PT - Refinitiv data
    ** For TWTR, KeyBanc remains cautious on degree of
bullishness around new ad units and the 2021 Olympics
    ** Shares of PINS set to extend gains to fourth straight
session and open at an all-time high of $53.8
    ** GOOGL, FB, TWTR down between 0.5% and 0.8%   

 (Reporting by Susan Mathew in Bengaluru;)
 ((susan.mathew@thomsonreuters.com; +91-80-6287-2704;))