Thoughts From Facebook's (FB) Developer Conference - Citi

Citi analyst Mark May reiterated a Buy rating and $212.00 price target on Facebook (NASDAQ: FB) after annual developer conference, F8. Key Takeaways:

Focus is on privacy: The analyst believes "the company has found a way forward that thoughtfully combines addressing the important needs of protecting the franchise with a product approach for users, businesses and partners that it can build on for future growth".

Messaging: The company is positioning messaging as the new modern social network with 3 characteristics: speed, privacy and interoperability.

FB5: The new version of the app is more focused on communities and groups as a central part of the platform.

Transactions: Company is becoming more active in payments having just launched a new shopping channel on Instagram and announced the launch of Shopping for Creators on Instagram.

For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.

Shares of Facebook closed at $194.70 yesterday.

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