Jefferies Reiterates Bullish Stance on Facebook (FB) Following Updates from F8

Jefferies US Internet Team reiterated a Buy rating and $105 price target on Facebook (NASDAQ: FB) following an update from F8.

The analyst team commented, "F8 featured a number of announcements with a specific focus on Messenger and video. Users will soon be able to view Facebook videos (and presumably, ads) on 3rd party sites. As video usage on FB soars (~3B daily video views, up from 1B in Sept), TV ad budgets are just beginning to shift online. By '17, online video ads could be a $17B per year oppt'y in the US alone. FB looks increasingly well positioned to capture a meaningful piece of that pie."

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 $82.92 yesterday.

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