Facebook (FB) Bullish View Reiterated at Jefferies, Est. Raised
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Jefferies analyst Brian Fitzgerald reiterated a Buy rating and $170 price target on Facebook (NASDAQ: FB) following results, saying it is the
Fitzgerald commented, "Back in Jan. we said the '15 holidays would be remembered as a watershed moment for mobile ads. This appears to be playing out as ad dollars pour into mobile campaigns with FB the primary beneficiary, attracting more new ad dollars than even larger peer GOOGL. Investors will focus on the '17 outlook, which suggests high expenses and slowing growth. FB currently trades at 26x '17 EPS, its lowest multiple ever."
The firm raised Q4 EPS from $1.13 to $1.22, FY 2016 EPS from $3.68 to $3.86 and FY 2017 EPS from $4.43 to $4.51.
Shares of Facebook closed at $127.17 yesterday.
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