JP Morgan Highlights Facebook as Favorite 2014 Idea Ahead of Wednesday's Q4 Results
Facebook (NASDAQ: FB) is slated to announce its 4Q13 earning aftermarket close on Wednesday, January 29. JPMorgan analyst Doug Anmuth speculates that FB is slated to report a strong 4Q due to mobile and news feed ads. He also reiterated that Facebook remains the "Favorite Idea in 2014."
Anmuth previously commented, "Mobile has moved from a headwind in 2013 to a tailwind in 2014. We note that Facebook's mobile revenue growth has been robust, despite relatively modest ad load increases, suggesting users, usage and ad-quality improvements can continue to drive strong revenue growth going forward."
JPMorgan currently rates Facebook as Overweight with a price target of $62.
FB is currently trading down around $53 from its previous close of $54.45 on Friday,
Latest Ratings for FB
|Apr 2015||Deutsche Bank||Maintains||Buy|
|Apr 2015||JP Morgan||Maintains||Overweight|
|Apr 2015||JMP Securities||Maintains||Market Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.