CLSA Saying FB Has Goldmine Opportunities, Raises Target to $60. LINKED
Seeking Alpha Market Currents 9/12/13
Facebook price target hiked at JPMorgan, CLSA
Expecting strong advertising traction to build into the end of the year, JPMorgan reiterates its Buy rating on Facebook (FB) and ups the price target to $53 from $44. The team is raising its mobile and desktop estimates, and projects mobile will surpass 50% of total ad revenues in Q4.
CLSA one-ups JPMorgan, hiking its price target to a Street-high $60. Traffic is still under-monetized with several "goldmine" opportunities yet to be unlocked - video ads, games, search, ad network, and Instagram, to name a few. The valuation could reach $97 over time, says CLSA.