Deutsche Bank Keeps a Buy Rating on Facebook (FB)

By Jason Carr

Deutsche Bank analyst Lloyd Walmsley maintained a Buy rating on Facebook (FBResearch Report) today and set a price target of $230.00. The company’s shares closed last Monday at $179.85.

According to TipRanks.com, Walmsley is a 5-star analyst with an average return of 9.6% and a 57.7% success rate. Walmsley covers the Technology sector, focusing on stocks such as Uber Technologies Inc, Pinterest Inc, and Alphabet Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Facebook with a $236.07 average price target, a 31.8% upside from current levels. In a report issued on September 25, Macquarie also reiterated a Buy rating on the stock with a $215.00 price target.

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Based on Facebook’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $16.89 billion and net profit of $2.62 billion. In comparison, last year the company earned revenue of $13.73 billion and had a net profit of $5.14 billion.

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