Facebook: Credit Suisse raises target price

(CercleFinance.com) - Credit Suisse raised its target price for the Facebook share to 322 dollars from 315 dollars, as the broker hiked its estimates for the social network company for the second half of the year.


The analyst has raised its revenue growth expectations for the second half, based on stronger checks, indicating better-than-expected ad budget growth across both Facebook and Instagram.

"We believe ad pricing continued to improve sequentially, due primarily to marketers returning to the auction," Credit Suisse added.

According to the broker, which has an "outperform" rating on the stock, the momentum suggests that advertiser growth should accelerate as businesses rush to get online.

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.