Cramer -- Facebook Going to $120 Is Bold, Not Absurd

NEW YORK (TheStreet) -- Noted research analyst Gene Munster of Piper Jaffray raised his price target on Facebook (FB) to $120 from $92 on Monday.

That's a "bold call" that will get investors talking, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment. 

Cramer is bullish, too, saying Facebook -- an AAP holding -- is actually cheap based on its future earnings potential. He estimates that the company can generate $3.50 in earnings per share in 2017.

FB Chart
Facebook FB data by YCharts

Turning to cyber security, Cramer pointed out analysts at UBS downgraded shares of Symantec (SYMC) and FireEye (FEYE).

There's been a parabolic move by many of the stocks in the cyber security space, he said. That includes stocks such as CyberArk Software (CYBR), Palo Alto Networks (PANW) and Fortinet (FTNT). 

While the rallies have been incredible, investors will regret selling these stocks if a big computer hacking is announced in the next few days that sends these stocks even higher, Cramer said. 

At the time of publication, Cramer's Action Alerts PLUS had a long position in FB.

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