FB: Facebook price target hiked at JPMorgan, CLSA

Facebook price target hiked at JPMorgan, CLSA • 7:32 AM

• Expecting strong advertising traction to build into the end of the year, JPMorgan reiterates its Buy rating on Facebook (FB) and ups the price target to $53 from $44. The team is raising its mobile and desktop estimates, and projects mobile will surpass 50% of total ad revenues in Q4.
• CLSA one-ups JPMorgan, hiking its price target to a Street-high $60. Traffic is still under-monetized with several "goldmine" opportunities yet to be unlocked - video ads, games, search, ad network, and Instagram, to name a few. The valuation could reach $97 over time, says CLSA.
• Chatting at TechCrunch Disrupt yesterday, Facebook CEO Zuckerberg said the company's engagement on mobile is better than that on PCs.
• Shares +1.2% premarket to $45.57.

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FB price at time of publication: $45.05. Check FB price now »

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Transcripts on FB

• Facebook Inc. (FB) CEO Discusses Q2 2013 Results - Earnings Call Transcript
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