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UPDATE: Deutsche Bank Raises PT on Facebook on Ascendency in Mobile Market

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In a report published Friday, Deutsche Bank analyst Ross Sandler reiterated a Buy rating on Facebook (NASDAQ: FB), and raised the price target from $43.00 to $62.00.

In the report, Deutsche Bank noted, “Facebook's ascendency in mobile caught most investors off guard in 2Q, and in this report we illustrate (1) how FB got here, and (2) why we believe 2015 estimates remain ~5% too conservative, BEFORE layering in Instagram, and (3) how Instagram could be an incremental +15% to 2015 ad revenue, as our channel checks point to a mid-1Q14 ad launch. In short, while a good portion of alpha has been generated already for FB longs, we see upside to $62 based on upward estimate revisions and S+P 500 inclusion. Buy.”

Facebook closed on Thursday at $50.39.

Latest Ratings for FB

DateFirmActionFromTo
Dec 2014CitigroupMaintainsBuy
Dec 2014MKM PartnersInitiates Coverage onBuy
Nov 2014Hilliard LyonsInitiates Coverage onLong-term Buy

View More Analyst Ratings for FB
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Ross SandlerAnalyst Color Price Target Analyst Ratings

 

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