Facebook (FB) PT Lifted to $93 at Baird Post Q4

Baird analyst Colin Sebastian reiterated an Outperform rating and boosted his price target on Facebook (NASDAQ: FB) to $93.00 (from $80.00) following 4Q14 results above already bullish expectations for revenue, margin, and EPS, driven by continued mobile momentum.

Sebastian commented, "Facebook reported another strong quarter, benefiting from ongoing healthy user engagement trends/monetization. Management also narrowed 2015 Opex guidance, which still reflects ~$2B in incremental spend. We believe these investments in headcount, product development (Atlas/WhatsApp/Oculus), and online infrastructure to be both prudent and consistent with the company's "develop-first, monetize-second" corporate ethos. Reiterate Outperform rating with a higher $93 price target."

The firm raised FY 2015 EPS from $1.81 to $1.95 with FY 2016 at $2.45.

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 $76.24 yesterday.

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