Topeka Adds China as L-T Catalyst for Facebook
In a report published Monday, Topeka Capital Markets analyst Victor Anthony noted the China catalyst opportunity for Facebook (NASDAQ: FB).
Anthony noted previous conversations with Chinese industry pundits and a recent job posting for a language specialist in simplified Chinese on Facebook. The analyst wrote, “we believe it is a matter of when, not if, Facebook enters China. As such, we are adding entry into China, the world's largest Internet market, as a long-term catalyst for Facebook.”
Topeka reiterated other near-term catalysts including Instagram monetization and video ads. The analyst sees further long-term catalysts in monetization of Graph Search and WhatsApp.
Victor Anthony maintained a Buy rating and $75.00 price target on Facebook.
Shares of Facebook closed at $58.53 on Friday. The stock is currently up 1.76 percent at $59.56.
Latest Ratings for FB
|Jan 2017||Pacific Crest||Reinstates||Overweight|
|Jan 2017||Raymond James||Upgrades||Outperform||Strong Buy|
|Jan 2017||Aegis Capital||Initiates Coverage On||Buy|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.