Evercore Raises Target on Facebook from $34 to $45, Maintains Overweight
Evercore Partners maintains Facebook, Inc. (NASDAQ: FB) with a Overweight and raises the price target from $34.00 to $45.00.
The firm's Ken Sena said he believes the effects of some of the company's recent ad changes are still ahead. The analyst specifically mentioned the initiative for right-hand rail refresh and larger images and more video ads. The exchange in mobile ads and the implementation of the Atlas ad server were also cited.
With shares of Facebook trading up about 1 percent to $37.45 at last check, Sena's new target implies potential upside of about 20 percent.