UPDATE: Jefferies & Company Reiterates Buy Rating, $30 PT on Facebook

In a report published Friday, Jefferies & Company reiterated its Buy rating and $30.00 price target on Facebook FB. Jefferies noted, “We are increasingly optimistic over FB's long-term prospects as it clarifies new areas of focus. Of the ~10 new monetization levers we track, the most interesting may be Facebook Exchange (FBX). With an interesting retargeting feature, the ads sold through FBX should command higher rates than the current ads they displace. The impact could be seen sooner than previously thought, based on comments by early FBX ad partners like Triggit.” Facebook closed on Thursday at $21.95.