Will This Price Target Increase Help Facebook (FB) Today?

Story updated at 9:40 a.m. to reflect market activity.

NEW YORK (TheStreet) -- Nomura Securities reiterated its "buy" rating for Facebook (FB) Friday while raising its price target to $84 from $78.

Shares of Facebook gained 0.5% to $69.14 in morning trading.

Analyst Anthony DiClemente also raised estimates for the social network company through 2015. The increase is due a shift towards mobile ads.

"Investors have asked if forward price increases at FB will be driven more by mix shift or by price per core ad growth; we believe the answer is both," DiClemente wrote. " Further runway exists for mix shift to mobile in terms of both revenue and ad impressions. We separately believe there is pricing power inherent to News Feed ads, driven by characteristics unique to them: reach, targetability, standardization, and as of yesterday, video. We are raising our estimates for blended pricing upside, raising ad estimates, and increasing our target price to $84 from $78, keeping our target 22x 2015E EV/EBITDA multiple constant."

Must read: Warren Buffett's 10 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.


Separately, TheStreet Ratings team rates FACEBOOK INC as a Hold with a ratings score of C. TheStreet Ratings 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."

If you liked this article you might like

These Powerful Corporate Executives Could Make a Run at the Presidency in 2020

Zuckerberg, Facebook Directors Settle Delaware Suit Over Voting Rights

North Korea's Nuclear Threat Pressures Wall Street at Trading Week's End

LA Times Tops 100,000 in Digital Subscriptions

Stocks Claw Back From Session Lows as Markets Digest North Korea Threat