Facebook (FB) Price Target Raised to $115 at Deutsche Bank

Deutsche Bank maintained a Buy rating on Facebook (NASDAQ: FB) and raised its price target to $115.00 (from $100.00). The change follows Q2 results.

Analyst Ross Sandler said, "FB continues to execute near-flawlessly, with 2Q metrics that were right down the fairway. The company is performing at the high level despite the push-out of monetization of its family of apps, which we think helps to preserve the premium valuation. Our bullish thesis is predicated on: 1) steady growth in price and ad effectiveness for core FB driving near term upside to consensus, as shown in 2Q, 2) further out-year estimate revisions when FB starts to monetize its other -apps, and 3) little to no multiple expansion."

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 $96.99 yesterday.

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