Merrill Lynch Believes Facebook (FB) Still Has Room to Grow


Merrill Lynch analyst Justin Post reiterated a Buy rating on Facebook (NASDAQ: FB) on July 19 and set a price target of $230. The company’s shares closed on Friday at $209.94, close to its 52-week high of $211.50.

According to TipRanks.com, Post is a top 100 analyst with an average return of 21.9% and a 77.0% success rate. Post covers the Technology sector, focusing on stocks such as Activision Blizzard, Snap Inc, and Twitter.

Currently, the analyst consensus on Facebook is a Strong Buy with an average price target of $235.89, which is a 12.4% upside from current levels. In a report issued on July 9, J.P. Morgan also initiated coverage with a Buy rating on the stock with a $242 price target.

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Facebook’s market cap is currently $609.2B and has a P/E ratio of 34.73. The company has a Price to Book ratio of 7.85.

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