Investing.com -- KeyBanc Capital Markets cut price targets across a group of digital advertising and streaming stocks citing worsening ad agency checks and increased macro uncertainty.
The firm reduced revenue forecasts and price targets for eight names, including Overweight-rated Alphabet (NASDAQ:GOOGL), Meta Platforms (NASDAQ:META), Netflix (NASDAQ:NFLX), Pinterest (NYSE:PINS), Spotify (NYSE:SPOT), and The Trade Desk (NASDAQ:TTD).
Trump tariffs have induced the investments pause until, as companies wait to see the impact on supply chains and consumers
Agency feedback now points to ad budget growth of just 3–5%, down from earlier expectations of 6–7%.
Checks have notably deteriorated, with agencies citing spending uncertainty among auto, CPG, and retail verticals, analysts wrote.
KeyBanc said the environment has entered a “pause” phase as companies reassess the impact of supply chain and consumer trends.
New price targets include $185 for Google, which was earlier $202, $645 for Meta, cut down from $710, and $1,000 for Netflix down by $100.
Meta remains KeyBanc’s top ad pick, supported by ongoing AI-driven product improvements, while Google is seen as more limited in ad load expansion but better positioned for cost controls.
KeyBanc also noted a preference for subscription-based models, calling Netflix and Spotify more defensive plays in a weaker ad market due to recurring revenue and improving monetization.
Related articles
NewAmsterdam Pharma Announces Commencement of Secondary Offering of Ordinary Shares
Bitcoin Tops $27,000
US hopes Modi visit 'consecrates' India as most important partner -Campbell
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。