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Cantor Fitzgerald Reiterates Buy Rating, $33 PT on Facebook

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In a report published Wednesday, Cantor Fitzgerald reiterated its Buy rating and $33.00 price target on Facebook (NASDAQ: FB).

Cantor Fitzgerald noted, “We maintain a BUY rating on Facebook and continue to believe it is a long-term winner within our group, after the company unveiled yesterday (to much fanfare at its Menlo Park headquarters) the beta launch of a social search function coined Graph Search. While this is not a Web search product a la Google, this service will leverage the incredible amount of unstructured social data the company has to extract answers to questions about people, photos, places, and interests. We believe this could be Facebook's next billion dollar opportunity, greatly expanding the company's addressable market. That said, we do not see this as a major threat to Google, at least not in its current form.”

Facebook closed on Tuesday at $30.10.

Latest Ratings for FB

DateFirmActionFromTo
Jan 2017Raymond JamesUpgradesOutperformStrong Buy
Jan 2017Aegis CapitalInitiates Coverage OnBuy
Nov 2016Wells FargoMaintainsOutperform

View More Analyst Ratings for FB
View the Latest Analyst Ratings

Posted-In: Cantor FitzgeraldAnalyst Color Reiteration Analyst Ratings

 

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