Facebook Watch has been conspicuously overlooked since it made its debut in 2017.
Hampered by modest viewership, the video service gained some traction last year with the premiere of Tom Brady’s “Tom vs. Time” documentary and it is currently getting a big promotional push during the NBA Finals with the Stephen Curry-inspired “Stephen vs. The Game” .
“The investment in getting users to watch video content on the platform and potential long-term monetization far outweighs any near-term headwinds,” Walmsley wrote in a Wednesday note to clients. He has a Buy rating and $220 target on shares of Facebook, implying 24% to its current price. “We think the investment in getting users to watch video content on the platform and potential long-term monetization far outweighs any near-term headwinds,” Walmsley concluded.
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