UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Facebook on Multiple Positive Factors

In a report published Wednesday, Credit Suisse analyst Stephen Ju reiterated an Outperform rating on

, and raised the price target from $88.00 to $102.00. In the report, Credit Suisse noted, “We have made numerous changes to our estimates as we layer in contribution from Facebook's new mobile ad network, push out Graph Search, and update FX. We have increased our target price from $88 to $102 as we roll forward our valuation parameters to use 2015 estimates.” Facebook closed on Tuesday at $76.45.