Jefferies Raises PT on Facebook (FB) to $37 Following Q2 Earnings
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Price: $45.08 --0%
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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Jefferies reiterated a Buy rating and raised its price target on Facebook (NASDAQ: FB) from $32 to $37 following "impressive" Q2 results.
Jefferies Internet team comments, "Reiterate Buy on impressive results that we believe ameliorate key investor concerns, namely: 1) mobile advertising does work on FB and 2) engagement among US teens is not declining. Importantly, eCommerce companies (among others) are increasingly becoming big advertisers on FB, setting the company up for a strong holiday. Going forward, we continue to see meaningful catalysts in the launch of video ads and Instagram monetization."
The firm raised Q3 EPS from $0.14 to $0.18, FY 2013 from $0.57 to $0.70, and FY 2014 from $0.78 to $0.87.
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 $26.51 yesterday.
Jefferies Internet team comments, "Reiterate Buy on impressive results that we believe ameliorate key investor concerns, namely: 1) mobile advertising does work on FB and 2) engagement among US teens is not declining. Importantly, eCommerce companies (among others) are increasingly becoming big advertisers on FB, setting the company up for a strong holiday. Going forward, we continue to see meaningful catalysts in the launch of video ads and Instagram monetization."
The firm raised Q3 EPS from $0.14 to $0.18, FY 2013 from $0.57 to $0.70, and FY 2014 from $0.78 to $0.87.
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 $26.51 yesterday.
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