Facebook (FB): Killer App Remains Elusive - Macquarie
- Wall St. touches two-week high on deals, strong earnings
- Unusual 11 Mid-Day Movers 10/24: (UNIS) (MBVT) (ACCO) Higher; (TDW) (INO) (BCC) Lower
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Macquarie analyst, Ben Schachter reiterated his Outperform rating on shares of Facebook (NASDAQ: FB) after attending the Oculus Connect developer conference. The analyst believes that the technology showed incremental steps forward, but nothing jumped out as a big leap ahead.
Oculus and VR is taking steps forward to be more immersive and user-friendly while bringing down the cost-to-own. The technology was interesting but mostly incremental. Oculus Touch controllers will launch December 6 at a price of $199 which brings head-tracking to the Rift. First-person shooter games will launch alongside the Touch controllers and while impressive, almost all the demos were games. The use cases for VR in enterprise, healthcare and others is broadening out from games more slowly than expected.
No change to the price target of $155.
Shares of Facebook closed at $128.74 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Facebook (FB) November weekly 140 calls active into Q3 and outlook
- Jefferies Raises Price Target on FMC Technologies (FTI) After Adjusting Estimates
- Susquehanna Cuts Price Target on KLA-Tencor (KLAC) Following Strong 1Q
Create E-mail Alert Related CategoriesAnalyst Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!