Why don't you own Facebook Inc.  (FB) - Get Report stock yet?

Barclays is bullish on the company ahead of its January 31 earnings release, giving the company an "overweight" rating and $215 price target, representing a 14.4% upside from the stock's previous closing price of $187.87.

The firm expects Facebook to report revenue above consensus estimates of $12.5 billion and easily exceed GAAP EPS estimates of $1.94 per share. Barclays sees an even higher upside than the firm's own $12.7 billion ad revenue forecast. 

"Commentary around "fixing" the platform and downstream engagement impact will be a focus. Stepping back from the print, while we believe that FB remains a must-own for any large-cap portfolio, we have a cautiously optimistic stance on 2018 consistent with our view of the entire group," Barclays analysts said. 

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