Market Overview

SunTrust Robinson Humphrey Reiterates Buy Rating on Facebook Following Twitter S-1 Filing

Related FB
#PreMarket Primer: Friday, August 29: Japanese Economy Proves Resilient
Markets Little Changed In Low Volume And Slow News Ahead Of Long Weekend
Social Media, Groupthink and the Spiral of Silence (Fox Business)

In a report published Friday, SunTrust Robinson Humphrey analyst Robert S. Peck reiterated a Buy rating on Facebook (NASDAQ: FB).

In the report, SunTrust Robinson Humphrey noted, “Twitter filed its S-1 yesterday with the SEC, which we believe could value the company as high as $20b. Twitter is reported to be expecting to generate over $1b in revenues next year. If we apply Facebook and LinkedIn's FY13 P/Sales multiples of 15x and 19x, that would imply a value of ~$20b. This was on the heels of Facebook CEO Mark Zuckerberg's reiteration of the company's core mission at TechCrunch Disrupt on Wednesday. His interview drove home several key points regarding Facebook as a company, and our investment thesis: mission, vision, and catalysts.”

Facebook closed on Thursday at $44.75.

Posted-In: Robert S. Peck SunTrust Robinson HumphreyAnalyst Color Reiteration Analyst Ratings

 

Related Articles (FB)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters