Cantor Fitzgerald Lifts Facebook (FB) Target to $33 on Mobile Traction

Cantor Fitzgerald raised its price target on Buy-rated Facebook (NASDAQ: FB) from $28 to $33 citing 1) rollover of our DCF-derived PT to FY:13 from FY:12, 2) more confirmation of Facebook's traction on mobile with user-engagement showing material acceleration in November, and 3) growing mobile monetization.

"In all, we view Facebook as a prime beneficiary of growth in mobile advertising/e-commerce and view its shares as an attractive play on this trend," the analyst said.

For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.

Shares of Facebook closed at $27.71 yesterday.

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