Market Overview

UPDATE: Piper Jaffray Raises PT on Facebook on Major Remaining Catalysts

Related FB
Citi Raises Price Target On Facebook, Says Instagram Is Worth $35 Billion
Why Teenagers Don't Find Facebook 'Cool' Or 'Safe' Anymore
Stop Retailers From Stalking You Online (Fox Business)

In a report published Monday, Piper Jaffray analyst Gene Munster reiterated an Overweight rating on Facebook (NASDAQ: FB), and raised the price target from $46.00 to $57.00.

In the report, Piper Jaffray noted, “We remain positive on shares of FB following the stock's substantial run given that meaningful catalysts remain ahead of the stock. We are building in expectations for two of the upcoming catalysts: video and Instagram for CY14 and CY15. We note that Instagram suggested on its blog that users would begin seeing advertising in the near term. While we remain positive on shares, we note that the valuation of the stock (50x CY14 EPS, 1.5 PEG) trades significantly above peers like GOOG (17x CY14 EPS, ~1 PEG). Overall, we believe upside remains for shares of FB, but believe that other large cap stocks may be more attractive.”

Facebook closed on Friday at $51.04.

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: Gene Munster Piper JaffrayAnalyst Color Price Target Analyst Ratings

 

Related Articles (FB)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional