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  • gigoptixman gigoptixman Feb 11, 2013 5:27 PM Flag

    Follow the Bouncing Analyst

    Facebook Shares Surge As Analysts See Growth In Mobile Ad Sales

    By DAVID LIEBERMAN, Executive Editor | Monday November 26, 2012 @ 12:58pm ESTTags: Facebook

    The stock is up more than 8% mid-day after two analysts upgraded their recommendations, and a third raised his price target. Bernstein Research’s Carlos Kirjner changed his rating to “outperform” from “market perform,” and upped his price target by $11 to $33. He says that investors underestimate Facebook‘s potential to sell ads that target people who visit the social network on smartphones and tablets. The company’s making progress in helping advertisers to insert provocative messages in users’ news streams — not just in separate displays. That should give Facebook more time “to become something different from (and better than) a very large display advertising publisher.” Kirjner projects that Facebook’s ad sales will hit $6.2B next year and $7.8B in 2014 — which he says is “materially above consensus” from other analysts.

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