Needham & Co. Ups Target Price On Facebook Shares
Facebook got some good news on Wall Street Monday, as Needham & Co. hiked its target price for the stock to $33 per share from $25, MarketWatch reported.
Facebook got some good news on Wall Street Monday, as Needham & Co. hiked its target price for the stock to $33 per share from $25, MarketWatch reported.
Needham also said in a research note that it increased its 2013 revenue estimate for the social network to $6.5 billion from $6.27 billion, and its earnings-per-share estimate to $0.65 from $0.59, writing:
We are confident that each time Facebook discovers a successful new monetization format, Facebook can roll it out globally almost immediately and at a low incremental cost.
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