FB fourth-quarter revenue of $1.49 billion - GS raised to $38 - Bloomberg raised to $51
Facebook 12-month target lifted to $38 at Goldman
— 3:20 AM ET 01/17/2013
MADRID (MarketWatch) -- Goldman Sachs raised its 12-month price target on Facebook Inc. (FB to $38 from $35 on Thursday. In a note, Goldman said it sees upside for the fourth quarter earnings that Facebook (FB) is due to report on Jan. 30, owing to a continued strong ramp in News Feed adds, along with its new Gifts services. "We believe our estimate of $404 million in revenue from News Feed ads may prove too conservative," the analysts said in a research note. It said the Gifts segment could represent $20 million to $45 million in payments revenue that's not included in the analysts' current fourth-quarter estimates. Goldman expects Facebook (FB) to report fourth-quarter revenue of $1.49 billion and adjusted earnings per share of 14 cents.