Facebook (FB) Estimates Raised at Sterne Agee Following Strong Q3

Sterne Agee analyst Arvind Bhatia reiterated a Buy rating and $85 price target on Facebook (NASDAQ: FB) following strong Q3 results.

Bhatia comments, "Facebook’s execution continues to be strong and we believe very few companies in the world have the reach, the audience engagement and the monetization opportunity that Facebook has in front of it today. 3Q revenue/EBITDA exceeded expectations driven by strong user growth, engagement and monetization across geographies. Reiterating Buy and $85 target."

The firm is raising 2014 Revenue / Adjusted EBITDA / EPS estimates to $12.3B/$8.1B/$1.69 from $11.99B / $7.7B / $1.64. They are also raising 2015 Revenue / Adjusted EBITDA / EPS estimates to $17B/$10.1B/$2.00 from $16.25B / $10.13B / $2.04, respectively.

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 $80.77 yesterday.

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