UPDATE: Facebook (FB) Price Target Raised to $46 at Piper

(Updated - August 5, 2013 10:50 AM EDT)

Piper Jaffray maintained an Overweight rating on Facebook (NASDAQ: FB) and raised its price target to $46.00 (from $38.00). Analyst Gene Munster noted revenue potential from Facebook's video ads offering. He also pointed out future Instagram monetization, expected in 2015 or later.

Munster thinks the stock will continue to work as Facebook efforts with graph search, FB Exchange, mobile platform, and new ad products increase revenue per user.

For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.

Shares of Facebook closed at $38.05 yesterday.

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