Story updated at 9:55 to reflect market activity.
Facebook gained 0.5% to $64.79 in morning trading.
Facebook could see revenue of $11.5 billion in 2014 and $15.6 billion in 2015, up from the firm's previous estimates of $11.1 billion and $14.3 billion, respectfully. Analysts Arvind Bhatia and Brett Strauser cited strong engagement driven by the World Cu and WhatsApp as neat-term catalysts.
The firm maintained its $80 price target for the stock.
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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 stock itself is trading at a premium valuation."
Highlights from the analysis by TheStreet Ratings Team goes as follows: