Facebook Ends Advertisements Targeted At Children Below 18: Bloomberg

Facebook Inc FB has stopped targeting ads to children below eighteen based on their interests or their activity on other apps and websites, Bloomberg reported.
The changes will apply to Facebook's legacy site, photo-sharing app Instagram, and Messenger communication app.
The company will place the teen Instagrammers below sixteen years into private accounts by default, letting people control who sees or responds to their posts. The updates follow wide criticism over Instagram for kids targeted at children below thirteen.
Mizuho analyst James Lee raised the price target on Facebook to $450 from $400, implying 21.7% upside, and maintained a Buy rating.
Lee believes concerns relating to the Identifier for Advertisers and ATT prompt appear overstated. He expects upward revisions to the consensus revenue growth estimate of 34% year-over-year in FY21 and says Facebook remains his top U.S. internet pick.
Price action: FB shares traded lower by 1.94% at $365.22 on the last check Tuesday.
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