Credit Suisse on Monday raised its price target for Facebook Inc FB to $175 based on projected ad volume growth in the second quarter.
The price target was up from a previous projection of $170.
“Our conversations with advertisers suggest that Dynamic Ads for Travel seem to be gaining traction as marketers in the segment are rotating budgets to Facebook after seeing ROI (return on investment) improvements,” the firm said in an analyst note.
The firm maintains its Outperform rating on the company.
Analyst Commentary
“Also, FB's existing partnership with Datalogix seems to be driving greater attribution for offline store/foot traffic.”
Facebook was trading at just at $140.76 on Monday, up nearly 1 percent.
“Slower-than-expected advertiser adoption either on a product-by-product or regional basis for Facebook's various ad units is a risk to our estimates,” it added.
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