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Bernstein's big tech look favors Facebook, Alphabet, Snap

|About: Facebook, Inc. (FB)|By:, SA News Editor

Bernstein has launched coverage on big tech, favoring Facebook (NASDAQ:FB) and Alphabet (GOOG, GOOGL) over rival Amazon.com (NASDAQ:AMZN).

The firm's Mark Shmulik started Facebook at Outperform with a price target of $250, implying 15% upside, and gave Alphabet the same rating and a price target of $1,600, implying 13% upside. FB is up 0.3% after hours, while GOOGL is up 0.1%.

Snap (NYSE:SNAP) also gets an Outperform rating and a $20 target (15% upside). It's up 0.4% after hours.

Amazon gets a Market Perform rating and a $2,050 target, which implies 7.8% upside. Pinterest (NYSE:PINS) is also Market Perform, with a target of $21 (7% upside).

On the other end of its coverage is Twitter (NYSE:TWTR), initiated at Underperform with a $27 price target (implying 19% downside). Its shares are down 1.1% postmarket.

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