UPDATE: Stifel Nicolaus Upgrades Facebook to Buy
Stifel Nicolaus raised its rating on Facebook (NASDAQ: FB) from Hold to Buy and established a $26 price target.
Stifel Nicolaus commented, "Facebook reported modest upside to our estimates and consensus, with an impressive 14% of total revenues from mobile. The contribution from mobile more than offset a $39mn q/q decline in desktop ad revenues. ... Importantly, total revenue growth accelerated and margins increased. We believe the growth and margin ramp will extend into 2013. Estimates increase slightly. We would use the weakness surrounding the lockup expirations to add to positions."
Facebook closed at $19.50 on Tuesday.
Latest Ratings for FB
|Mar 2017||BTIG Research||Upgrades||Neutral||Buy|
|Feb 2017||Pivotal Research||Downgrades||Buy||Hold|
|Jan 2017||Pacific Crest||Reinstates||Overweight|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.