Another Analyst Cuts Facebook Stock Price Target

Another analyst lowered his price target for Facebook shares Friday, as Anthony DiClemente of Barclays Capital slashed his number from $31 per share to $23, citing concerns over mobile monetization.

Another analyst lowered his price target for Facebook shares Friday, as Anthony DiClemente of Barclays Capital slashed his number from $31 per share to $23, citing concerns over mobile monetization.

As reported by Forbes, DiClemente’s 2012 earnings-per-share forecast of $0.41 remained unchanged, and he lowered his 2013 outlook from $0.43 to $0.41, while the industry consensus for the two years is $0.49 and $0.63, respectively.

DiClemente wrote, as reported by Forbes:

With a lack of evidence from Facebook around significant traction in its mobile monetization strategy, we are revising our estimates and lowering our price target.

The rapid deceleration in Facebook’s ad impression growth in the second quarter is concerning and largely a function of the mobile shift, in our view.

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