Facebook (FB) PT Raised to $160 at Jefferies

Jefferies US Internet Team reiterated a Buy rating and boosted its price target on Facebook (NASDAQ: FB) to $160.00 (from $145.00).

The team commented, "It was another big beat driven by the soaring mobile ad business. User and engagement levels were at the highest levels ever, and the expense outlook remains unchanged. FB will introduce a new class of non-voting stock through a 1x dividend that will be mechanically similar to a 3-for-1 stock split. The new class will allow FB to use non-voting stock for acquisitions, compensation, and philanthropic purposes without diluting Zuckerberg's majority vote control."

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 $108.89 yesterday.

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