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Morgan Stanley's Scott Devitt boosted his price target on shares of Facebook
FB from $37 to $45 Wednesday morning. Devitt maintains an Overweight rating on the stock.
The thesis for the analyst's new target focuses on the prospect of video ads lifting overall sales. Devitt believes video ads could make up about 10 percent of total ad sales by 2014, and push both earnings and revenue higher by about 10-15 percent over the next two years or so.
With Facebook shares down 0.3 percent to $38.43 at last check, Morgan Stanley's new price target implies potential upside of about
17 percent.
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