Facebook (FB) PT Raised to $115 at Nomura Into Q2 Results

Nomura Securities analyst Anthony DiClemente reiterated a Buy rating and boosted his price target on Facebook (NASDAQ: FB) to $115.00 (from $96.00) into Q2 results on July 29.

commented, "A series of positive recent data points including Google/YouTube results, encouraging checks on both video pricing, and accelerating Instagram monetization all lead us to modestly increase our 2Q estimates and target price. For 2Q15E, we now forecast total revenue of $4.00bn (+37% YoY) with mobile revenue of $2.78bn (+69% YoY) and EBITDA of $2.48bn Our revenue forecast is modestly above consensus, as we believe that video and Instagram contributions are both beginning to accelerate. As a result, we increase our new sum-of-parts derived target price to $115 from $96."

The analyst said the quarter’s three key themes include:

• YouTube read-through indicates robust video growth for sector.
• Instagram monetization trends likely to positively impact results
• CPC changes should lift spend for largest cohort of Facebook advertisers

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 $97.91 yesterday.

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