FB: Facebook rallies following Instagram/Twitter news, another PT hike

Facebook rallies following Instagram/Twitter news, another PT hike • 1:46 PM

• Facebook (FB +3.6%) has rallied back above $50 following a Thursday afternoon that saw Instagram announce brand ads are coming and Twitter file its public S-1. Bullish notes from Sterne Agee and William Blair could be helping out.
• Sterne's Arvind Bhatia, who has been bullish on Facebook since its pre-IPO days, has raised his PT to $58 from $50 to account for Instagram's ad launch and "better-than-expected ongoing trends." His target equals a lofty 20x multiple on 2015E adjusted EBITDA of $6.8B (raised from a prior $6.3B).
• Blair's Ralph Schackart joins analysts at Goldman and Raymond James in reporting Facebook advertiser talks were encouraging.

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FB price at time of publication: $50.94. Check FB price now »

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