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Facebook (FB) PT Lifted to $185 by Piper Jaffray's Munster

July 28, 2016 6:44 AM EDT
Get Alerts FB Hot Sheet
Price: $196.64 --0%

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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Piper Jaffray analyst Gene Munster reiterated an Overweight rating and raised his price target on Facebook (NASDAQ: FB) to $185.00 (from $170.00) following strong Q2 results with revenue 7% ahead of the Street.

Munster commented, " Driving the strong revenue beat were a combination of solid demand from advertisers as well as an increase in users, time spent and ad load. News Feed ads were the primary driver of growth. The company has been able to show significant revenue beats with another acceleration this quarter despite facing difficult comps. While the company continues to note the difficult comp environment, we are making significant positive adjustments to our forward revenue expectations given the accelerating growth that put our numbers slightly ahead of where the Street was prior to the Q2 report (see page 2 for detail). Our core thesis in FB remains intact (next paragraph) and we reiterate our Overweight rating and raise our price target to $185 ($170 prior)."

The firm raised FY 2016 EPS from $3.17 to $3.78 and FY 2017 EPS from $3.60 to $4.49.

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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Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

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Piper Jaffray, Gene Munster