Market Overview

UPDATE: Sterne Agee Raises PT on Facebook as Instagram Monetization will Begin Before Year-End

Related FB
Google Upgraded At Oppenheimer, Firm Sees $700 Sum-Of-Parts
Wedbush Assumes Coverage Of Twitter, Says Investors Should Remain On The Sidelines
Twitter: The Value Of The Influencer Network (Seeking Alpha)

In a report published Friday, Sterne Agee analyst Arvind Bhatia reiterated a Buy rating on Facebook (NASDAQ: FB), and raised the price target from $50.00 to $58.00.

In the report, Sterne Agee noted, “We are raising our FY14 and FY15 revenue/adjusted EBITDA estimates to reflect monetization of Instagram and better-than-expected ongoing trends. We are raising our target price to $58 from $50 based on 20x our new FY15 adjusted-EBITDA estimate of $6.8B (up from $6.3B). Our target multiple is a slight expansion from our prior estimate of 18x and slightly above the peer-group average of 18x. We continue to recommend FB as a core holding in Internet portfolios.”

Facebook closed on Thursday at $49.18.

Latest Ratings for FB

Oct 2015WedbushAssumesOutperform
Sep 2015Moffett NathansonInitiates Coverage onBuy
Aug 2015SusquehannaInitiates Coverage onPositive

View More Analyst Ratings for FB
View the Latest Analyst Ratings

Posted-In: Arvind Bhatia Sterne AgeeAnalyst Color Price Target Analyst Ratings


Related Articles (FB)

View Comments and Join the Discussion!

Get Benzinga's Newsletters