Argus Upgrades Facebook (FB) to Buy

Argus upgraded Facebook (NASDAQ: FB) from Hold to Buy with a price target of $115.00.

The firm raised 2015 EPS forecast by a penny to $2.04 and our 2016 forecast to $2.39 from $2.36.

The analyst said the company continues to gain traction on monetization through increased advertising, to broaden its appeal to users, and to enter new areas such as virtual reality and messaging.

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 $94.07 yesterday.

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