In a report released today, Scott Devitt from Stifel Nicolaus upgraded Facebook (FB) to Buy, with a price target of $240.00. The company’s shares closed last Monday at $198.71, close to its 52-week high of $208.66.
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 19.2% and a 66.4% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies, and Mercadolibre.
Currently, the analyst consensus on Facebook is a Strong Buy with an average price target of $234.70, implying a 17.4% upside from current levels. In a report issued on December 3, Piper Jaffray also initiated coverage with a Buy rating on the stock with a $230.00 price target.
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The company has a one-year high of $208.66 and a one-year low of $123.02. Currently, Facebook has an average volume of 12.97M.
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