Facebook (FB) PT Maintained at $215 at Citi on 4Q Preview; Digital Agency Checks Suggest '~4% Upside to Consensus Total Revenue Estimate'
Citi maintained its price target on Facebook (NASDAQ: FB) at $215.00 while maintaining a Buy rating, ahead of the company's earnings announcement on January 31, after the market close.
Analyst Mark May points to checks with digital ad agencies, that suggest potential 4Q ad revenue of roughly $13 billion, proving a ~4% upside to consensus revenue estimates and 50% year over year growth, while strength in Europe offers upside to 2018 projections, even as sentiment remains in check due to conversations regarding changes to the News Feed.