Facebook rises on 2 upgrades

Investor's Business Daily

Stifel Nicolaus and BMO Capital Markets lifted estimates for Facebook (FB), giving its shares a boost to 26.62 as it comes off a difficult year. Stifel Nicolaus raised its Q4 sales estimate 3.4% to $1.54 bil and raised its price target to 31 from 26, saying it's bullish on Facebook Gifts, which will enable the social media leader to sell high-margin gift items, avoiding direct competition with Amazon (AMZN). BMO nearly doubled its price target to 32 from 15, saying it expects ad spending to accelerate.


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