Facebook (FB) PT Lifted to $82.50 at Janney Capital

Janney Capital analyst Tony Wible reiterated a Buy rating and lifted his price target on Facebook (NASDAQ: FB) to $82.50 (from $71.00) following strong Q2 results.

Wible comments, "FB beat by $0.10 on stronger mobile pricing and cost leverage. 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. We continue to believe that FB has significant LT growth opportunities. Although this was a solid quarter, the stock has significantly outperformed, user growth and engagement appear to be moderating, and new product catalysts may be further out than anticipated. These issues could work against the valuation longer term. However, the aforementioned cost and pricing factors boost near term prospects that leads us to increase estimates along with our FV to $82.50 (from $71)."

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 $71.29 yesterday.

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