Facebook's (FB) Price Target Raised to $170 at Deutsche Bank

Deutsche Bank maintained a Buy rating on Facebook (NASDAQ: FB) and raised its price target to $170.00 (from $160.00).

Analyst Ross Sandler said, "Facebook reported revenue and EPS that were 5.4% and 14% above our estimates. The overall tone of the call was upbeat despite some renewed concerns about ad load in 2017. Stepping back from the metrics, FB feels very similar to GOOG from ’06-‘08, its multiple is compressing despite incredible financial results. GOOG’s multiple stopped going down at 24x EPS prerecession, a few turns down from where FB currently trades, and was a money-maker during that era. Hence we see upward estimate revisions and new innovation driving the stock higher (vs. multiple expansion) from here. Buy."

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 $123.34 yesterday.

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