Facebook (FB) PT Raised to $175 at JPMorgan
- Donald Trump Sworn in as 45th U.S. President
- Wall Street off day's best levels after Trump inaugural speech
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Herbalife (HLF) Says SEC Requested Documents on Anti-Corruption Compliance in China; Reviewed with DoJ
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
JPMorgan analyst Doug Anmuth raised his December 2017 price target on Facebook (NASDAQ: FB) to $175.00 (from $170.00).
The firm maintained an Overweight rating: "We believe Facebook’s virtual ownership of the social graph, strong competitive moat, and focus on the user experience position the company to significantly improve monetization over time and to become an enduring, blue-chip company built for the long term. Facebook’s massive reach and engagement continue to drive network effects, and its targeting abilities provide significant value to advertisers. We
believe it is still very early in the development of Facebook’s ad platform, including an ongoing improvement in ad targetability and measurement as well as a shift toward ads with higher quality formats, which we believe will become increasingly valuable to advertisers."
The new price target is based on 24x the firm's 2018E non-GAAP EPS of $7.31, which is supported by their DCF.
Shares of Facebook closed at $127.31 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Downgrades Endo International plc (ENDP) to Neutral
- Zayo Group Holdings (ZAYO) PT Raised to $41 at BTIG; Reiterates Buy
- Web.com, Inc. (WEB) PT Raised to $25 at BWS Financial Ahead of 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
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!