Facebook (FB) Buy Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald maintained a Buy rating on Facebook (NASDAQ: FB) with a price target of $80. Analyst Youssef Squali said multiple growth drivers create long-term opportunity.

"We remain constructive on FB given the multitude of revenue drivers we see in the short, medium and long term; namely 1) further penetration of mobile, including FAN, 2) launch of auto-play video ads on Facebook, 3) monetization of Instagram, likely to start in 2015, and 4) monetization of WhatsApp, likely in 2016 and beyond," said Squali.

"FB trades at 10.8x EV/Revenue and 17.1x EV/EBITDA on our FY:14 and 7.3x/11.0x on FY:15 estimates. We find this valuation compelling relative to our 3-year revenue and EBITDA CAGRs of 50% and 55%, respectively. We remain at the high end of Street estimates for 2014/15," he added.

For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.

Shares of Facebook closed at $59.21 yesterday.

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