Facebook (FB) Winning in Mobile, Says Analyst

November 19, 2012 7:36 AM EST
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Facebook (Nasdaq: FB) seems to be winning the mobile war, according to analysts at Cantor Fitzgerald. Citing October data from comScore, they say its mobile engagement growth is far outpacing peers.

Facebook's time spent metrics increased 6.4 percent month-over-month, compared to flat readings at Google (Nasdaq: GOOG) and Yahoo! (Nasdaq: YHOO), and an 11 percent drop at AOL properties (NYSE: AOL). The data excludes tablet usage.

"While many fear a rapid transition to mobile usage, where monetization is still nacent, we view increased mobile engagement as a key strength for Facebook and a longer-term differentiator," said analyst Youssef Squali.

"Combined with rapid innovation in newer mobile ad formats, growth in mobile offers enormous potential for Facebook over time, keeping us positive on the name," added Squali.

Cantor Fitzgerald has a Buy rating on Facebook (NASDAQ: FB) with a price target of $28.00.

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 $23.56 yesterday.

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