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Why Credit Suisse Is Raising Facebook's Price Target

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Why Credit Suisse Is Raising Facebook's Price Target

Credit Suisse Analyst Stephen Ju maintained an Outperform rating on Facebook Inc. (NASDAQ: FB) and raised the price target from $258 to $305.

Here were some of the analyst’s investment takeaways:

  • After seeing month-on-month improvements throughout April and May, Facebook. advertiser feedback suggests moderating brand budget growth recovery in June.
  • Updated second-quarter checks show that entertainment, media and retail “declined less severely.”
  • Facebook has the potential for better-than-expected ad revenue growth on product innovation such as Facebook Shops and search in Marketplaces. 

Overall, Credit Suisse's near-term estimates remain unchanged for now.

The sell-side firm sees some risks associated with slower-than-expected adoption of Facebook ad units, greater regulatory oversight and longer-than-expected headwinds from COVID-19.

FB Price Action: Shares of Facebook closed Friday’s session at $242.03.

Latest Ratings for FB

DateFirmActionFromTo
Sep 2020Morgan StanleyMaintainsOverweight
Sep 2020KeyBancInitiates Coverage OnOverweight
Aug 2020UBSMaintainsBuy

View More Analyst Ratings for FB
View the Latest Analyst Ratings

 

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Posted-In: Credit Suisse Stephen JuAnalyst Color Price Target Reiteration Analyst Ratings

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