Bengaluru — DZ Bank was the third Wall Street brokerage this week to make a rare cut in price targets for Facebook on Wednesday as the social network’s share price slid for a third day in response to a row over data use. The brokerage cut its target for the California-based firm by $20 to $210, still far above the current share price of $165 but adding to signs that Wall Street analysts are waking up to the risks to the company. A 1.6% fall in Facebook shares in premarket trading brought the losses in the company’s market value this week to $57bn, or 10.5% — a shock for a company that has risen more than 550% in value in the past five years. In a secretly recorded video broadcast on Tuesday, the suspended CEO of Cambridge Analytica said his UK-based political consultancy’s online campaign had played a decisive role in US President Donald Trump’s 2016 election victory. Alexander Nix’s comments were potentially a further problem for Facebook as it faces US and European scrutiny of Cam...
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