Facebook (FB) Target to $80 at Wedbush
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January 31, 2014
Wedbush analyst Shyam Patil reiterated an Outperform rating and raised his price target on Facebook (NASDAQ: FB) from $72.50 to $80.
"Facebook delivered a strong revenue and EPS beat with year-over- year advertising revenue growth accelerating 10 points from 3Q," Patil notes. "We are reiterating our OUTPERFORM rating and raising our price target to $80 (from $72.50). We believe the company has multiple catalysts ahead, including the recently introduced video ads and Instagram monetization