Facebook's (FB) Price Target Raised to $145 at Deutsche Bank
Deutsche Bank maintained a Buy rating on Facebook (NASDAQ: FB) and raised its price target to $145.00 (from $125.00). The change follows strong Q4 results. Analyst Ross Sandler noted that this was Facebook's biggest upside print in three years.
"The bull case on Facebook is pretty well documented at this point, so the primary driver of stock price performance should come from upward estimate revisions, and 4Q delivered the greatest we’ve seen since mid-2013. Ad revenue growth accelerated 9ppts against a 6ppt easier comp, with 80% of ad revenue coming from mobile. Initiatives like Instagram, DPA and video are starting to take off while areas like Messenger, WhatsApp & VR are being cultivated and should provide future legs to growth. The new disclosures around video suggest FB continues to close the gap with YT in short form mobile video," said the analyst.
Sandler added, "We're raising our 2016 revenue and EBITDA estimates by 6.5% and 14.1% respectively. There are few names in large cap internet with as much runway as FB, Buy-The-Book."
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 $94.45 yesterday.