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Topeka Says Buy the Dip in Facebook; Notes 'Several Clear Reasons' to Be Shareholder

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Topeka Capital's Victor Anthony issued a note Friday advising investors to buy the weakness in shares of Facebook (NASDAQ: FB). The stock is down about 3 percent at last check.

Anthony believes there are "several clear reasons" to own Facebook: ramping in mobile monetization, a chance Facebook could introduce a search engine and potential e-commerce which could eventually be a meaningful contributor to the company's financials. The analyst also mentioned possible positive catalysts from Instagram and Facebook Exchange.

Topeka Capital maintains a Buy rating and $36 price target on Facebook shares.

Latest Ratings for FB

DateFirmActionFromTo
Apr 2017Credit SuisseMaintainsOutperform
Mar 2017BarclaysInitiates Coverage OnOverweight
Mar 2017BTIG ResearchUpgradesNeutralBuy

View More Analyst Ratings for FB
View the Latest Analyst Ratings

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