Facebook (FB) PT Raised to $92 at RBC Capital

RBC Capital analyst Mark Mahaney reiterated an Outperform rating and boosted his price target on Facebook (NASDAQ: FB) to $92.00 (from $86.00) following strong Q2 results.

Mahaney commented, "Revenue of $2.91B (up 61% Y/Y) beat RBC/Street @ $2.82B/$2.80B. The upside was again driven by Advertising, especially Mobile. Non-GAAP EPS of $0.42 was well ahead of RBC/Street @ $0.35/$0.32. EPS upside was driven by Revenue and much better than expected COGS and G&A leverage."

Very Positive Fundamentals – 67% Ad Revenue growth was strong despite a materially tough comp. Non-GAAP Op Margin was up 1,500bps Y/Y to 59%, resulting in 92% Y/Y EBITDA growth.

Income increase 9% and Non-GAAP EPS increases 1c to $2.15 on higher share count

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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