J.P. Morgan Reiterates Overweight Rating, $35 PT on Facebook
In a report published Monday, J.P. Morgan reiterated its Overweight rating and $35.00 price target on Facebook (NASDAQ: FB).
J.P. Morgan noted, “We believe Facebook's virtual ownership of the social graph, strong competitive moat, and focus on the user experience position the company to significantly improve monetization over time and to become an enduring, blue-chip company built for the long term. Facebook's massive reach and engagement continue to drive network effects and its targeting abilities provide significant value to advertisers, though it is still early. We believe Facebook's ad platform is just beginning to shift toward more social ads with higher-quality formats, and it will become increasingly valuable to advertisers.”
Facebook closed on Friday at $31.54.
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