Facebook: shares edge up after Deutsche Bank note
(CercleFinance.com) - Facebook shares were up 1.
8% at 201.8 dollars on Wednesday, boosted by an upbeat note from analysts at Deutsche Bank.
Having raised its target price for the stock from 260 dollars to 270 dollars, they said that they expect a "durable resurgence" of the social media company into 2020.
"We are bullish on Facebook and see the renewed strength in the core Facebook app becoming a critical leg of the story around shares in 2020," they said.
Deutsche Bank has a "buy" rating on the Facebook shares, which have risen by almost 55% year-to-date.
Copyright (c) 2019 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.
8% at 201.8 dollars on Wednesday, boosted by an upbeat note from analysts at Deutsche Bank.
Having raised its target price for the stock from 260 dollars to 270 dollars, they said that they expect a "durable resurgence" of the social media company into 2020.
"We are bullish on Facebook and see the renewed strength in the core Facebook app becoming a critical leg of the story around shares in 2020," they said.
Deutsche Bank has a "buy" rating on the Facebook shares, which have risen by almost 55% year-to-date.
Copyright (c) 2019 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.