Facebook (FB) PT Raised to $155 at UBS

UBS analyst Eric Sheridan reiterated a Buy rating and lifted its price target on Facebook (NASDAQ: FB) to $155.00 (from $150.00) following strong results.

Sheridan commented, "For us, the main themes from Facebook's Q2 results were a) the consistency & scope of ad revenue strength (+63% YoY F/X-neutral, the same YoY growth as in Q1 & roughly consistent with the trailing four quarter growth rate of +62% YoY); b) continued proof of management's ability to invest in long term initiatives (video, VR/AR, connectivity) while demonstrating sustained operating leverage; & c) user growth and engagement trends/commentary that should calm fears over the competitive backdrop for mobile media consumption over the medium term. In a nutshell, we believe Facebook is the large cap company in the space that continues to demonstrate across-the-board operating beats by growing at ~4x industry levels (in terms of digital advertising), while continuing to innovate/iterate on both user interface & ad products (all at a compelling risk/reward when measured on multiples-to-growth on '17 estimates)."

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 $123.34 yesterday.

You May Also Be Interested In

• Citi Upgrades United Microelectronics Corp (2303:TT) (UMC) to Buy 'with limited downside'
• Owens Corning (OC) PT Raised to $172 at Evercore ISI
• KKR Real Estate Financial Trust (KREF) PT Lowered to $12 at JMP Securities