Deutsche Bank Upgrades Facebook (FB) to Buy on Revenue Momentum
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Price: $45.61 +0.20%
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 19
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 19
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Deutsche Bank upgraded Facebook (NASDAQ: FB) from Hold to Buy with a price target of $40.00 (from $24.00).
The firm said FB has more revenue momentum than any other company they cover heading into 2013. They said Mobile Newsfeed Ads are the game-changer and the ramp-up is coming much faster than expected. In addition, they see several new catalysts emerging.
Deutsche Bank said ad revenue in 2013 should grow 40%, well above views. The firm said newsfeed revenue of $200 million in Q312, could be $800 million per quarter exiting 2013.
At tomorrow's event, the firm notes speculation of a new FB search. While the firm doesn't think the company is trying to index the broader web (yet), it is trying to make navigation on-site much more seamless.
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 $31.72 yesterday.
The firm said FB has more revenue momentum than any other company they cover heading into 2013. They said Mobile Newsfeed Ads are the game-changer and the ramp-up is coming much faster than expected. In addition, they see several new catalysts emerging.
Deutsche Bank said ad revenue in 2013 should grow 40%, well above views. The firm said newsfeed revenue of $200 million in Q312, could be $800 million per quarter exiting 2013.
At tomorrow's event, the firm notes speculation of a new FB search. While the firm doesn't think the company is trying to index the broader web (yet), it is trying to make navigation on-site much more seamless.
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 $31.72 yesterday.
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