Facebook (FB) PT Lifted to $120 at Jefferies; 'Impressive Mobile Revenue Growth'
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Jefferies US Internet Team reiterated a Buy rating and boosted their price target on Facebook (NASDAQ: FB) to $120.00 (from $105.00) following strong Q2 results, with "impressive" mobile revenue growth.
The team commented, "FB continues to post impressive mobile ad revenue above our estimates, even on very tough comps. FX again negatively pressured results in 2Q. We continue to see multiple meaningful go-forward growth levers in Instagram, new ad formats including video ads, the Facebook Audience Network, improved ad pricing, and WhatsApp. Management tightened the range for full year opex guide, a positive."
The firm raised Q3 EPS from $0.42 to $0.50, FY 2015 EPS from $1.72 to $1.97 and FY 2016 EPS from $2.32 to $2.68.
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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