Deutsche Bank Positive on Facebook (FB) into Q2 Results

Deutsche Bank maintained a Buy rating on Facebook (NASDAQ: FB) with a price target of $100. Comments come ahead of Q2 results later this month. Analyst Ross Sandler said Facebook was "firing on all cylinders," and recommended adding into the print.

"The set up heading into 2Q results for Facebook is slightly more favorable than the prior few quarters in our view, which partially explains the recent run-up in share price, as: 1) consensus ad revenue of $3.76B (+13% Q/Q) appears conservative vs. our $4B, 2) checks have been solid all quarter, and 3) the company has more revenue catalysts than most. We want to continue to own FB as we believe only a few of the many future opportunities are “priced in”. We don’t see the multiple expanding from here, but we could see meaningful upward estimate revision over the next 2-3 years as the family of apps outside of core FB start to monetize. We would add into the print, and want to maintain a sizeable position in FB for any internet book," said Sandler.

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 $89.68 yesterday.

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