Facebook: Jefferies raises target price
(CercleFinance.com) - An analyst at Jefferies said on Monday that he is raising his target price for the Facebook stock, while maintaining a "Buy" recommendation on it.
The broker has raised its target price for the share to 310 dollars (vs. 300 dollars previously).
"Our proprietary survey of 800+ US Instagram users and channel checks support our view that Reels could be FB's next key product catalyst. In our survey, ~50% of Reels users are engaging daily and >80% are likely to continue using Reels in the future," the broker says.
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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.
The broker has raised its target price for the share to 310 dollars (vs. 300 dollars previously).
"Our proprietary survey of 800+ US Instagram users and channel checks support our view that Reels could be FB's next key product catalyst. In our survey, ~50% of Reels users are engaging daily and >80% are likely to continue using Reels in the future," the broker says.
Copyright (c) 2020 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.