Facebook (FB) Checks Point to Solid Q1 Results: Deutsche Bank
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Deutsche Bank maintained a Buy rating on Facebook (NASDAQ: FB) with a price target of $90. Analyst Ross Sandler said checks point to a solid Q1. He also pointed to a potential catalyst in Dynamic Product Ads.
Sandler explained, "Our checks point to solid results in 1Q, fueled by continued growth in video and core newsfeed monetization, with additional modest progress at Instagram, and we are expecting another quarter of largely in-line results. Looking at FY15, much of the excitement around FB’s opportunities are captured in consensus estimates, but one that we think could surprise to the upside is the new Dynamic Product Ads program launched in Feb and should start to move the needle in 2H based on preliminary checks. Current DR advertisers testing the ads are showing huge lift in spend. We would add to positions into the print, but are not expecting meaningful revenue upside."
Facebook is scheduled to report earnings on April 22nd.
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 $80.78 yesterday.
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