Jefferies US Internet Team reiterated a Buy rating on Facebook (NASDAQ: FB) and raised their price target on the stock from $60 to $80 following strong Q4 results.
"What's not to 'like' in a quarter like this? Facebook continues to impress with accelerating revenue, a soaring mobile ad business (+306% Y/Y to $1.2B) meaningful margin expansion (67% Adj. EBITDA mgn, +650bps Y/Y), the most users ever (1.23B), and the highest engagement ever (62% of users log in daily)," the Internet Team said. "With two meaningful, clearly identifiable catalysts in Instagram and video ads, we reiterate Buy and raise our PT to $80."