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Sterne Agee Reiterates On Facebook, Sees $30 Billion In Revenue By 2018

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Sterne Agee analyst Arvind Bhatia is optimistic on Facebook's (NASDAQ: FB) position for "strong" future growth.

Bhatia reported that Facebook's standalone apps are "yet-to-be-monetized." This positions the company for "strong" future growth in advertising, and possibly eCommerce and Payments. In addition, the analyst sees opportunity with Instagram, WhatsApp and FB Messenger, which are still not monetized.

Sterne Agee remarked that the World Cup could also be a near-term catalyst with strong engagement.

The analyst sees the company achieving 13 percent of worldwide digital ad spending market share over the next five years, up from the firm's prior 11 percent estimate. Bhatia forecasts $30 billion in total revenue by 2018.

Sterne Agee reiterated a Buy and $80.00 price target on Facebook.

Shares of Facebook closed at $64.50 on Friday.

Latest Ratings for FB

DateFirmActionFromTo
Aug 2014Janney CapitalDowngradesBuyNeutral
Jul 2014BarclaysMaintainsOverweight
Jul 2014Canaccord GenuityMaintainsBuy

View More Analyst Ratings for FB
View the Latest Analyst Ratings

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

 

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