Facebook (FB): Cutting Estimates But Buy The Weakness - Mizuho
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Mizuho Securities analyst, Neil Doshi, reiterated his Buy rating on shares of Facebook (NASDAQ: FB) and cut his price target to $146 after concerns about 2017 being an investing year took 7% out of the stock price after earnings.
The analyst stated "there are a number of massive growth opportunities for FB, and investing in the biz is the right strategy to accelerate monetization in areas like video, messaging, VR, and more. We also note that Facebook historically has provided broad OpEx growth guidance, and has consistently outperformed that guide. With best-in-class margin structure, Facebook can afford to give up some margin in order to take share from other social and online advertising platforms".
Estimates for 2017 EPS go from $5.33 to $5.28 taking the PT down from $150 to $146. The new PT is based on 14x 2018 EBITDA of $29.3b and 21x 2018 NG EPS of $6.77.
Shares of Facebook closed at $127.17 yesterday.
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