- Facebook (FB) is now sporting a 17.6% premarket gain to a new all-time high of $62.92, with the entire Street rushing to hike price targets.
- Left out of the fun is BMO Capital's Dan Salmon, reiterating his Market Perform while lifting the PT to $60 from $50.
- "FB's ad pricing power also came through in Q4. In all, average price per ad rose by 92% YoY, a 3,900bp sequential acceleration on a 2-year stacked basis," says Susquehanna's Brian Nowak, reiterating his Positive rating and boosting the PT to $72 from $68.
- "With two meaningful, clearly identifiable catalysts in Instagram and video ads, we reiterate Buy and raise our PT to $80," says Jefferies.
- "At this point we believe that FB is in control of both revenues and costs, as high advertiser ROI can drive pricing," says Janney's Tony Wible, reiterating his Buy and boosting to $67 from $56.
- FBR, Cowen, and RBC also join in ...
- Last night's earnings coverage