Traders are apparently shrugging at a new Buy rating and $50 price target from Janney Capital's Tony Wible Tuesday morning. While the stock opened the session up more than 1.4 percent, shares are now trading about unchanged from Monday's close.
Wible believes Facebook is and will continue to be the benefactor from a secular shift toward mobile advertising. He also cited a trend toward consolidation of ad inventory levels around just a few publishers and favorable scaling of the company's recent investments.
The Janney analyst suggests the largest speculative opportunity Facebook investors could eventually cash in on is the possible developing of a payment platform by the company.
With Facebook shares last trading around $38 even, Wible's new price target represents potential upside of nearly 32 percent.
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