UBS Analyst Eric Sheridan upgraded his rating on Facebook stock to “buy” from “neutral” and raised his target price to $30 per share from $28, AP reported.
Sheridan wrote in a research note that he expects the social network’s revenue to rise in the second half of 2013 due to its advertising push, and that he believes Facebook video ads will debut during that same time period, adding that he also expects Facebook to add advertising to Instagram, and writing:
In both cases, Facebook must be careful not to overly disrupt the user experience.
Readers: What do you think of Sheridan’s analysis?
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