Nomura Comments On Facebook-LiveRail Deal

Following Wednesday's announcement by Facebook FB that it will acquire LiveRail, a company involved in advertising technology, Nomura issued a note expressing optimism on Facebook's strategy to make its ads more relevant.

The note also sited a TechCrunch report that reported Facebook paid between $400 and $500 million for the deal, although this has not been confirmed by the company.

Nomura currently rates Facebook as Buy with a $78 price target.