JPMorgan Lifts PT on Facebook (FB) to $35; More Positive in 2013 on Mobile Monetization

January 2, 2013 9:31 AM EST
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Price: $128.94 +1.50%

Rating Summary:
    49 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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JPMorgan raised its price target on Overweight-rated Facebook (NASDAQ: FB) from $29 to $35.

"We are incrementally positive on Facebook shares into 2013 as we believe it remains very early in the trajectory of Facebook's mobile advertising, and recent marketer feedback on mobile and News Feed ads has been positive," analyst Doug Anmuth states. "We are also encouraged that Facebook's ability to leverage third-party data through the Facebook Exchange (FBX) and Custom Audiences can drive improvements in Desktop yield. We believe Facebook‘s advertising revenue will accelerate at least through 1Q13 and we are raising our Advertising estimates 6-7% for 2013 and 2014."

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 $26.59 yesterday.

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