Facebook upgraded to Buy from Hold at Deutsche Bank

theflyonthewall.com

Deutsche Bank upgraded shares of Facebook (FB) to Buy from Hold and raised its price target for the name to $40 from $24. In a note to investors, Deutsche Bank said Facebook's mobile newsfeed ads are ramping faster than expected. The firm expects the online social network's ad revenue to grow north of 40% in 2013. Shares of Facebook closed Friday up 42c to $31.72.

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