WALL STREET: Sterne Agee Rates Facebook As ‘Buy,’ Sets $37 Target Price

Sterne Agee pressed the like button on Facebook in a research note Monday, rating its stock “buy” and setting a target price of $37 per share, and citing the social network’s mobile progress and growth by its Facebook Exchange real-time ad-bidding product, Barron’s reported.

Sterne Agee pressed the like button on Facebook in a research note Monday, rating its stock “buy” and setting a target price of $37 per share, and citing the social network’s mobile progress and growth by its Facebook Exchange real-time ad-bidding product, Barron’s reported.

The analysts also believe Facebook’s upcoming video ads will drive growth in 2014.

With Facebook’s second-quarter earnings call set for Wednesday afternoon, Sterne Agee offered some pre-call predictions:

  • Revenue of $1.6 billion, up 35 percent from the second quarter of 2012.
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