UPDATE: Cantor Fitzgerald Reiterates Buy Rating, Raises PT on Facebook

In a report published Wednesday, Cantor Fitzgerald reiterated its Buy rating on Facebook FB, and raised its price target from $28.00 to $33.00. Cantor Fitzgerald noted, “We're maintaining our BUY and raising our PT to $33 from $28 on: 1) rollover of our DCF-derived PT to FY:13 from FY:12, 2) more confirmation of Facebook's traction on mobile with user-engagement showing material acceleration in November, and 3) growing mobile monetization. In all, we view Facebook as a prime beneficiary of growth in mobile advertising/e-commerce and view its shares as an attractive play on this trend.” Facebook closed on Tuesday at $27.71.