More on JMP's Facebook upgrade: Mark Harding's $37 PT values Facebook (FB +0.7%) at 54x his 2013...

|About: Facebook (FB)|By:, SA News Editor

More on JMP's Facebook upgrade: Mark Harding's $37 PT values Facebook (FB +0.7%) at 54x his 2013 EPS esimate. He predicts Facebook's share of the display ad market will grow to 22% in 2015 from 11% in 2011, and that the market itself will increase rapidly as more offline ad spending moves to the Web. Harding also notes daily engagement rates for Facebook users have been rising across geographies. A recent Reuters survey suggests U.S. engagement may be peaking.