Deutsche Bank Upgrades Facebook (FB) to Buy on Revenue Momentum

January 14, 2013 6:44 AM EST Send to a Friend
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Price: $74.11 --0%

Rating Summary:
    41 Buy, 8 Hold, 0 Sell

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    Up: 14 | Down: 28 | New: 1
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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.


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