Facebook upgraded to Buy from Hold at Deutsche Bank
The Fly On The Wall
Deutsche Bank upgraded shares of Facebook (FB) to Buy from Hold and raised its price target for the name to $40 from $24. In a note to investors, Deutsche Bank said Facebook's mobile newsfeed ads are ramping faster than expected. The firm expects the online social network's ad revenue to grow north of 40% in 2013. Shares of Facebook closed Friday up 42c to $31.72.