NEW YORK (TheStreet) -- Facebook (FB) continues to gain during Tuesday's trading session, adding to an overall 6% increase since the beginning of the week. By mid-morning, the stock had climbed 1.1% to $57.85.
The social network received a welcome boost from Deutsche Bank analyst Ross Sandler who reiterates a "buy" rating and notes fourth-quarter results, due at the end of the month, will provide the next upside for the stock.
"Unlike last quarter, we view sentiment as more balanced heading into 4Q results which should provide the next catalyst to the upside, hence we would add to positions," writes Sandler. "Engagement continues to increase broadly for Facebook, owing to the strong footprint in mobile. Monetization is firing on all cylinders according to our checks, and we wouldn't be surprised to see ad revenue growth re-accelerate potentially in 4Q."
A day earlier, SunTrust analyst Robert Peck reiterated his "buy" rating and upped the 2014 target price to $65 from $55. Peck also raised Facebook's fourth-quarter earnings estimate to $2.37 billion from $2.29 billion based on the integration of mobile advertisements, the better quality of advertisements on the site and the monetization of Instagram.
TheStreet Ratings team rates FACEBOOK INC as a Hold with a ratings score of C-. The team has this to say about their recommendation:
"We rate FACEBOOK INC (FB) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. 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 and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."