SunTrust Robinson Humphrey Reiterates Buy Rating, $55 PT on Facebook as Positive Outweigh Concerns

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In a report published Thursday, SunTrust Robinson Humphrey analyst Robert S. Peck reiterated a Buy rating and $55.00 price target on Facebook (NASDAQ: FB).In the report, SunTrust Robinson Humphrey noted, “Facebook reported a very strong 3Q with ad revenues accelerating to 66% y/y growth up from 61% in 2Q. ARPUs accelerated growth to >40% y/y in every region. Mobile revenues grew 34% sequentially and rose 800 bps to 49% of revenues. Astoundingly non-GAAP operating profit accelerated to 49% margins, up from 44% last quarter. Incremental margins accelerated to 61% from 44% last quarter.”Facebook closed on Wednesday at $49.01.

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