Buy Facebook (FB) Weakness, Says Topeka
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Price: $45.08 --0%
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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Topeka Capital today maintained a Buy rating on Facebook (NASDAQ: FB) with a price target of $40.00. Analyst Victor Anthony thinks investors should buy into recent Facebook weakness.
"FB's shares have languished due to bevy of concerns including fears of declining teen usage, reports of advertisers abandoning the platform, and tough second half comps. However, following our checks with ad agencies, our tracking of newsfeed ads in the U.S. and Europe, our survey of teens social media usage, and conversations with Facebook employees, we believe the platform remains fundamentally strong," said Anthony.
Topeka increased 2Q13 revenue and adj. EPS estimates to above consensus based on "stronger than expected advertising growth in the quarter."
For an analyst ratings summary and ratings history on Facebook (NASDAQ: FB) click here. For more ratings news on Facebook click here.
Shares of Facebook closed at $23.63 yesterday.
"FB's shares have languished due to bevy of concerns including fears of declining teen usage, reports of advertisers abandoning the platform, and tough second half comps. However, following our checks with ad agencies, our tracking of newsfeed ads in the U.S. and Europe, our survey of teens social media usage, and conversations with Facebook employees, we believe the platform remains fundamentally strong," said Anthony.
Topeka increased 2Q13 revenue and adj. EPS estimates to above consensus based on "stronger than expected advertising growth in the quarter."
For an analyst ratings summary and ratings history on Facebook (NASDAQ: FB) click here. For more ratings news on Facebook click here.
Shares of Facebook closed at $23.63 yesterday.
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