Facebook (FB) PT Raised to $275 at Citi; Positive on Shop

Citi analyst Jason Bazinet raised the price target on Facebook (NASDAQ: FB) to $275.00 (from $245.00) while maintaining a Buy rating, saying the Shop feature provides benefits to long-term growth.

"If we assume Facebook captures about 2% of global ecommerce revenue by 2023, apply Amazon’s ad revenue as a share of GMV and include the Shop fee (of 5% of GMV), it suggests Facebook could generate $7B of incremental net income by 2023," the analyst comments.

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