Facebook (FB) Buy Rating Reiterated at Topeka

Topeka Capital reiterated a Buy rating on Facebook (NASDAQ: FB) with a price target of $75.00. Checks by analyst Victor Anthony suggest strength in Q1.

"Facebook is scheduled to report 1Q14 results after the close this Wednesday, April 23. We are estimating revenues of $2.393B, +64.1% YoY, up from $2.236B previously, and Non-GAAP EPS of $0.25, up from $0.23 previously. Our estimates are above consensus of $2.360B and $0.24. Our checks throughout the quarter suggest that demand for Facebook's inventory remains strong coming out of the seasonally strong retail driven 4Q, with pricing firming on the mobile impressions, and conversions on direct response continuing to improve. FB remains both a fundamental and catalyst driven story over the next two years," said Anthony.

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 $58.94 yesterday.

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