Facebook: shares gain as broker raises price target
(CercleFinance.com) - Shares of Facebook gain as much as 3 percent after Deutsche Bank raises its price target for the company to 325 dollars from 305 dollars, remaining a buyer of the stock.
Deutsche said in a note that consensus estimates leave "significant room" for upside, particularly looking to the fourth quarter, when the social network company tends to benefit from strength in e-commerce advertising.
"After a tough July from brand advertisers, we heard August improved to better growth than June and then September saw an even more pronounced improvement," it said.
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Deutsche said in a note that consensus estimates leave "significant room" for upside, particularly looking to the fourth quarter, when the social network company tends to benefit from strength in e-commerce advertising.
"After a tough July from brand advertisers, we heard August improved to better growth than June and then September saw an even more pronounced improvement," it said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.