The social media's expected launch of video advertising in July shows strong revenue promise, 2 analysts noted in upgrading the stock. Jefferies upgraded Facebook (FB) to buy from hold, with a $32 per-share price target, saying the ads could become a billion-dollar business. BMO Capital Markets upgraded it to outperform, with a price target of $33. Shares surged 5.3% to 24.55. But the shares are still well shy of the $38 initial offering price just over a year ago.
- Investment & Company Information
- BMO Capital Markets