Topeka Capital Raises Target on Facebook (FB) to $36 Citing E-Commerce Opportunity

November 26, 2012 9:49 AM EST Send to a Friend
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Price: $77.62 +2.63%

Rating Summary:
    43 Buy, 8 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 12 | New: 23
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Topeka Capital raised its price target on Facebook (NASDAQ: FB) from $34 to $36, while reiterating their Buy rating.

"With two of the biggest bearish concerns on Facebook's shares largely behind the company (ability to monetize mobile & lock-up expirations), we refocus on the options for Facebook, specifically e-commerce," analyst Victor Anthony comments. "After testing the Gifts service, we came away convinced that Facebook has a huge opportunity ahead as an e-commerce platform. We believe that the Gifts feature, when fully deployed, will resonate with Facebook's users, and retailers as well will gravitate to the platform as an additional distribution platform. Beyond that, we see the Gifts feature as the stepping-stone to a broader, formidable e-commerce platform on Facebook."

NOTE: Today's positive comments on FB from Topeka are in addition to two upgrades of the stock: Bernstein and BTIG.

For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.


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