Deutsche Bank Upgrades Facebook (FB) to Buy on Revenue Momentum
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Price: $25.78 -1.79%
Rating Summary:
25 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 12
Rating Summary:
25 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 12
Trade FB Now!
Deutsche Bank upgraded Facebook (NASDAQ: FB) from Hold to Buy with a price target of $40.00 (from $24.00).
The firm said FB has more revenue momentum than any other company they cover heading into 2013. They said Mobile Newsfeed Ads are the game-changer and the ramp-up is coming much faster than expected. In addition, they see several new catalysts emerging.
Deutsche Bank said ad revenue in 2013 should grow 40%, well above views. The firm said newsfeed revenue of $200 million in Q312, could be $800 million per quarter exiting 2013.
At tomorrow's event, the firm notes speculation of a new FB search. While the firm doesn't think the company is trying to index the broader web (yet), it is trying to make navigation on-site much more seamless.
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 $31.72 yesterday, with a 52 week range of $17.55-$42.99.
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The firm said FB has more revenue momentum than any other company they cover heading into 2013. They said Mobile Newsfeed Ads are the game-changer and the ramp-up is coming much faster than expected. In addition, they see several new catalysts emerging.
Deutsche Bank said ad revenue in 2013 should grow 40%, well above views. The firm said newsfeed revenue of $200 million in Q312, could be $800 million per quarter exiting 2013.
At tomorrow's event, the firm notes speculation of a new FB search. While the firm doesn't think the company is trying to index the broader web (yet), it is trying to make navigation on-site much more seamless.
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 $31.72 yesterday, with a 52 week range of $17.55-$42.99.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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