FB: Convinced on mobile, Citi ups Facebook to Buy

Convinced on mobile, Citi ups Facebook to Buy • 8:03 AM

• Previously concerned with Facebook's (FB) ability to monetize in mobile, Citigroup's team - led by analyst Mark May - has chatted with advertisers and believes the factors behind the sudden inflection in growth last quarter are sustainable. They also believe the company will be added to the S&P 500 by year's end.
• The stock's lifted to Buy with $55 price target (from $32).
• Shares +2.1% premarket.

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FB price at time of publication: $47.19. Check FB price now »

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