BTIG Raises Facebook Inc (FB) Price Target To $117

BTIG Raises Facebook Inc (FB) Price Target To $117
Google Finance

Shares of Facebook are up around 1% in premarket trading Tuesday, after BTIG released an updated equity research view of the company. BTIG maintains their “Buy” rating for Facebook, but increased its price target to $117.00, implying nearly 23% in upside.  BTIG believes that Facebook still has a lot of growth in the video advertisement department, particularly with its acquisitions of Instagram, WhatsApp, and Facebook Messenger.  BTIG believes there is still a lot of profit potential here as these apps still have yet to see their full monetization.

BTIG increases full year 2015 revenue estimate for Facebook

BTIG rose its full year 2015 revenue estimates for Facebook from $17.3 billion to $18.1 billion.  The average consensus on the Street for full year 2015 FB revenue is $17.1 billion.  Full year EBITDA estimates for 2015 also received a bump at Facebook, from $10.6 billion to $11.4 billion.  Turning to full year 2016 estimates for Facebook, BTIG rose revenue estimates to $25.9 billion from $22.1 billion.  EBITDA full year 2016 was also risen from $13.8 billion to $15.6 billion.  Ultimately, BTIG analysts see room for growth at Facebook, as the company continues to have growth options at its disposal, particularly with the strategic acquisitions it has made over the years.

BTIG Equity Research

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