Facebook (FB) PT Raised to $162 at Goldman Sachs; Remains in the 'Sweet Spot'
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Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Goldman Sachs analyst Heather Bellini reiterated a Buy rating and raised her price target on Facebook (NASDAQ: FB) to $162.00 (from $142.00) following strong Q2 results. The analyst said the company remains "in the sweet spot of digital advertising trends."
Bellini commented, "Facebook remains in the sweet spot of digital advertising trends and is well-positioned to increase its share of wallet share given its reach and effectiveness for advertisers, in our view. The strength in the core Facebook app is continuing and newer monetization opportunities such as Instagram and video are quickly following as MAUs and the number of advertisers are growing. When coupled with emerging bets on platforms such as Messenger and WhatsApp, we continue to see an unparalleled product roadmap. On the call, management commented that they anticipate ad load to be a less significant driver of revenue growth post 2Q17. We note that this is in synch with our expectations and is the reason for our deceleration in growth. Given the revenue and margin upside as well as lower tax assumption, we increase our CY16/CY17 non-GAAP EPS estimate to $4.09/$5.24 from $3.57/$4.41."
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 $123.34 yesterday.
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