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Topeka Says Buy the Dip in Facebook; Notes 'Several Clear Reasons' to Be Shareholder

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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.

Latest Ratings for FB

DateFirmActionFromTo
Aug 2014Janney CapitalDowngradesBuyNeutral
Jul 2014UBSMaintainsBuy
Jul 2014CRT CapitalMaintainsBuy

View More Analyst Ratings for FB
View the Latest Analyst Ratings

Posted-In: Analyst Color Analyst Ratings

 

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