Sterne Agee Reiterates Buy Rating, $37 PT on Facebook on News Feed Redesign

In a report published Friday, Sterne Agee reiterated its Buy rating and $37.00 price target on Facebook

. Sterne Agee noted, “We believe FB's redesigned News Feed feature could help improve user engagement and ultimately monetization. The redesign puts greater emphasis on photos (and videos) and makes them more prominent, allows filters for a curated and personalized user experience (the world's most personalized newspaper) and increases consistency of experience across the desktop and mobile. Reiterating Buy and $37 target.” Facebook closed on Thursday at $28.58.