Facebook: Jefferies raises target price

(CercleFinance.com) - Jefferies has reinstated its "buy" rating on the Facebook share and has upped its corresponding target price from 230 dollars to 250 dollars, after another solid quarter with a 2.
5% rev beat and an $0.11 ex-charge EPS beat".

"With Opex growth outlook unchanged for the full year, we continue to believe in $10 EPS on the horizon," the broker wrote in a note.

Jefferies has therefore raised its estimates for the social network giant, now expecting sales of 69.7 billion dollars and adjusted EPS of 8.01 dollars for 2019, and respectively 84.9 billion and 9.49 dollars for 2020.


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