Credit Suisse Lowers Facebook Price Target

On Tuesday, analysts at Credit Suisse lowered the price target on shares of Facebook Inc FB to $90 from $92 and maintained the Outperform rating.

Stephen Ju wrote, "We modestly decrease our near term advertising revenue estimates to account for recent strengthening of the US Dollar versus other major currencies."

Ju feels that the recent currency fluctuations that will likely have a negative impact on Facebook's international business. Consequently, the analyst lowered advertising revenue forecasts by ~110 basis points to $2.71 billion.

Shares of Facebook recently traded at $73.70, up 1 percent.