Facebook: Morgan Stanley raises target price
(CercleFinance.com) - On Tuesday, Morgan Stanley has raised its target price for the Facebook share, while maintaining its "overweight" rating on it.
In a research note, the broker underlines the unrelenting dynamism of the online advertising market and in particular highlights the potential of Instagram Stories and Facebook core activities, which it believes will be the earnings driver for the social network this year.
In this context, Morgan Stanley says that it has raised its target price for the share from 250 dollars to 270 dollars.
At 10 am (New York time), the Facebook share was down 0.8% at 220.8 dollars, underperforming the Nasdaq index, which is down 0.1%.
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