Topeka Says Buy the Dip in Facebook; Notes 'Several Clear Reasons' to Be Shareholder
Topeka Capital's Victor Anthony issued a note Friday advising investors to buy the weakness in shares of Facebook (NASDAQ: FB). The stock is down about 3 percent at last check.
Anthony believes there are "several clear reasons" to own Facebook: ramping in mobile monetization, a chance Facebook could introduce a search engine and potential e-commerce which could eventually be a meaningful contributor to the company's financials. The analyst also mentioned possible positive catalysts from Instagram and Facebook Exchange.
Topeka Capital maintains a Buy rating and $36 price target on Facebook shares.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.