Sterne Agee Reiterates On Facebook, Sees $30 Billion In Revenue By 2018
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
|Oct 2016||Credit Suisse||Maintains||Outperform|
|Sep 2016||JP Morgan||Maintains||Overweight|
|Sep 2016||Loop Capital||Initiates Coverage on||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.