Facebook (FB) PT Raised to $135 at Jefferies

Jefferies US Internet Team reiterated a Buy rating and raised its price target on Facebook (NASDAQ: FB) to $135.00 (from $130.00) following another solid beat.

The team commented, "Another impressive beat driven by the soaring mobile business. We continue to see multiple meaningful go-forward growth levers in Instagram, video ads, the Facebook Audience Network, improved ad pricing, and WhatsApp. FB & Instagram account for an astonishing 5% of users' total media time (including TV, etc.), yet FB doesn't come close to capturing 5% of total ad budgets. We see a long runway for growth as time spent and ad spending converge. Reiterate Buy."

FY 2015 EPS goes from $1.97 to $2.06.

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 $103.94 yesterday.

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