Deutsche Bank Reports Strong 3Q Revenue and EBITDA for Facebook

In a report published Wednesday, Deutsche Bank analyst Ross Sandler reiterated a Buy rating and $90.00 price target on

. In the report, Deutsche Bank noted, “Facebook reported strong 3Q revenue and EBITDA, which were 4% and 3% above consensus. The company's guidance, which given the history we view as base case (not bull), captures similar 2-year growth in ad revenue (ex-fx) at the high end. The down 10% aftermarket reaction seems appropriate given the earnings reactions across all of high multiple internet companies in 3Q, and the upcoming ~180m shares from WhatsApp that could hit the tape shortly. We would add on weakness over the coming several sessions, as we continue to view FB as one of the best names in the space, straddling both high growth and a reasonable multiple. Buy.” Facebook closed on Tuesday at $80.77.