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UBS analyst Eric Sheidan raised his price target on Facebook
FB shares from $36 to $45 Friday morning. The analyst maintains a Buy rating.
After beating the Street for Q2, recent industry checks show Facebook's momentum is continuing into Q3. Per the checks garned by Sheidan, this momentum stems from advertisers' adoption of Facebook's new products and strong ad pricing.
Advertising industry checks also indicate that given the time spent on Facebook, the cycle remains under-monetized relative to competitors.
With Facebook shares trading down about 0.1 percent to $38.50 at last check, Sheidan's new price target implies potential upside of about 17 percent.
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