Bernstein Upgrades Facebook (FB) to Outperform; Risky But Worth It

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Bernstein upgraded Facebook (NASDAQ: FB) from Market Perform to Outperform with a price target of $33.00 (up from $23.00).

The firm sees Facebook beating average revenue estimates over the next 12-24 months as monetization of Newsfeed inventory drives growth.

While Bernstein is upgrading the stock, they call Facebook a "risky investment" dependent on unproven success of social advertising, realization of platform opportunity and possible new businesses.

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 $24.00 yesterday, with a 52 week range of $17.55-$42.99.

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