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

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In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Facebook (NASDAQ: FB), and raised its price target from $30.00 to $32.00.

Jefferies noted, “We reaffirm Buy as revenue and EPS edged expectations in a solid 3Q, despite a $52MM FX headwind. The qtr saw weakness in Payments & Other, no change from 2Q. But the real story is the ad business, which beat our ests despite having ~11 new products like Offers remaining in nascent stages. Mobile progress is also impressive, already accounting for 14% of ad rev. We are raising our PT to $32 as we take up our out-year ad rev ests.”

Facebook closed on Tuesday at $19.50.

Latest Ratings for FB

DateFirmActionFromTo
Dec 2018GuggenheimInitiates Coverage OnNeutral
Dec 2018Stifel NicolausDowngradesBuyHold
Nov 2018ArgusMaintainsBuyBuy

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Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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Latest Ratings

StockFirmActionPT
MOSJP MorganDowngrades33.0
BACKeefe Bruyette & WoodsDowngrades29.0
AMTMorgan StanleyDowngrades170.0
EBAYMorgan StanleyDowngrades33.0
UNITMorgan StanleyDowngrades16.0
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UPDATE: Stifel Nicolaus Upgrades Facebook to Buy

UPDATE: Nomura Raises PT to $39 on Virgin Media on Subscriber Growth, Valuation