Facebook (FB) Target Raised to $90 at Raymond James

Raymond James analyst Aaron Kessler reiterated an Outperform rating and boosted its price target on Facebook (NASDAQ: FB) to $90.00 (from $84.00).

Kessler commented, "Facebook reported a solid 4Q driven by strong growth in mobile revenues (100% y/y) and continued strong growth in newer platforms (Instagram, Messenger, WhatsApp, video). We maintain our positive bias given: 1) strong advertiser demand; 2) solid engagement trends; 3) potential upside from video, Instagram, and Facebook Audience Network. We reiterate our Outperform rating and increase our price target to $90."

For 2015, them firm reduce revenue and EBITDA by -3% to $16.64 billion and $10.24 billion, respectively, and reduce non-GAAP EPS by -5% to $2.06 (previously $2.16.

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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