NEW YORK (TheStreet) -- Facebook (FB) has had its price target increased to $85 from $80, Jefferies said Thursday. The firm said its revision was driven by accelerating revenue and soaring mobile ad business.
"FB continues to impress with the 4th straight quarter of accelerating revenue, a soaring mobile ad business (+258% Y/Y to $1.3B), meaningful margin expansion (82% gross mgn, +980bps Y/Y), the most users ever (1.28B), and the highest engagement ever (63% of users log in daily)," analysts wrote in the report.
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- You can view the full analysis from the report here: FB Ratings Report
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