Jefferies Says It Is Now 'Incrementally More Positive' On Facebook Video

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In a report published Wednesday, Jefferies analyst Brian Pitz stated that

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Facebook Inc

(NASDAQ: FB) is looking "increasingly well positioned" to capture a "meaningful" piece of the TV ad budget that is just beginning to shift online.According to Pitz, Facebook is "taking a page out of the YouTube playbook" by allowing users t embed Facebook videos on other sites. The analyst suggested that over time, the move should result in more video views for Facebook, and by default, more places for advertisers to run a video ad.Facebook also stated that LiveRail will now support display ads instead of just video. These ads will leverage anonymized Facebook data, ensuring "sophisticated" targeting capabilities.Facebook's announcements implies it is "laying the foundation" to take a meaningful share of the $17 billion online video ad opportunity by 2017. The analyst stated that video usage grew "dramatically" in 2014 to approximately three billion video views per day, up from around one billion in September. Moving forward, the company's "burgeoning" video ad business will be a "meaningful source" of growth.Shares of Facebook remain Buy rated with a $105 price target.