SunTrust's Peck Sees 'Buy" Button Adding 5-10% To Facebook's Sales

Robert Peck of SunTrust Robinson Humphrey took coverage on Facebook Inc FB Thursday, rating the social network giant at a Buy rating alongside a price target of $100. Facebook closed at $82.16 after Wednesday’s session and spiked up 15 cents to $82.31 in Thursday’s pre-market session.

Facebook announced Wednesday that it will be launching a brand new feature: the “Buy Button.” The buy button will allow Shopify clients from various businesses the ability to build advertisements that grants transactions with one click of a button. Peck adds “We think this new buy button could not only expand the activity of current retail/ecommerce advertisers but also open a new segment of advertisers that are more ‘direct response’ e-commerce companies.” Peck figures Facebook’s new buy button has the potential to increase incremental revenues 5-10 percent.

Facebook’s stock price is up almost 28 percent in the past year.