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Citron

Facebook shares could hit $160 in 2019: Citron

CALIFORNIA: Short-seller Citron Research on Wednesday backed Facebook Inc, saying the stock could hit $160 in 2019 as the company’s revenue and user base have seen little impact from the reported data scandals and privacy issues this year. Shares of the social network rose as much as 4.4 percent to $129.57 after Citron’s report. They are down 28 percent this year. "We believe investors will be rewarded by the shift of user behavior to Instagram shopping and the personalization of the commerce process," according to…