Facebook (FB) Bullish View Reiterated at Janney Capital Following Solid Q1

Janney Capital analyst Tony Wible reiterated his Buy rating and $71 fair value target on Facebook (NASDAQ: FB) following Q1 EPS that beat the Street by 10 cents on stronger mobile pricing and cost leverage. A lower tax rate also added $0.03 to the beat.

Wible comments, "The numbers are consistent with our view that FB is one of the marquee plays on mobile, and that the company continues to have understated pricing leverage. The departure of the CFO will be unnerving to some investors, but it does not take away from the top down view that ad buyers need to move spend to mobile and thus need to spend with FB. Nor does it diminish our view that FB could develop an epayments product that rivals the revenue opportunity from advertising."

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 $61.36 yesterday.

You May Also Be Interested In

• Amazon.com (AMZN) PT Raised to $215 at UBS
• Comcast Corp (CMCSA) PT Lowered to $48 at Pivotal Research
• Can Boeing overcome struggles? Analysts see 'path back to normal' after earnings