Facebook: Susquehanna raises target price
(CercleFinance.com) - Susquehanna maintains its "positive" rating on the Facebook stock and has raised its target price from 230 dollars to 250 dollars, citing "another strong quarter" from the social network.
"Core news feed ads, video and Instagram are driving the near-to-intermediate term, while Watch, off-network, Messenger, and virtual and augmented reality will provide the next legs of growth over the intermediate-to-longer term," analysts at the US broker wrote in a report.
"Our checks with some of Facebook's larger ad agencies make us confident in the company's forward momentum, particularly in video and Instagram, and we believe revenue estimates should move higher through 2018," they said.
Facebook shares opened up 1.8% at 189.7 dollars on Thursday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"Core news feed ads, video and Instagram are driving the near-to-intermediate term, while Watch, off-network, Messenger, and virtual and augmented reality will provide the next legs of growth over the intermediate-to-longer term," analysts at the US broker wrote in a report.
"Our checks with some of Facebook's larger ad agencies make us confident in the company's forward momentum, particularly in video and Instagram, and we believe revenue estimates should move higher through 2018," they said.
Facebook shares opened up 1.8% at 189.7 dollars on Thursday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.