NEW YORK (TheStreet) -- Shares of Facebook (FB) - Get Report were higher in late morning trading on Tuesday as JPMorgan upped its price target on the stock to $175 from $170 to reflect year end 2017 valuations.
The firm has an "overweight" rating on shares of the Menlo Park, CA-based company.
"Recent Facebook concerns are overdone," JPMorgan said.
The company came under fire last week for inflating several video metrics for advertisers. JPMorgan noted that while this could "weigh on credibility a bit in the near term," the firm thinks marketers and agencies purchase Facebook videos based on other metrics.
Additionally, the social media company will soon have "sustainably strong" growth driven by gains in its core news feed and ad products for video, Instagram and others, the firm anticipates.
JPMorgan also noted that Facebook's Messenger, WhatsApp and Oculus products are all "future drivers."
"We estimate Facebook has approximately 4.4% share of global advertising, and we think there is considerable room ahead," the firm added.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of A-.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.
You can view the full analysis from the report here: FB