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Facebook Price Target Raised By Stifel

Jordan Rohan and Michael Purcell, Equity research analysts at Stifel raised price target on Facebook Inc. (NASDAQ: FB) to $50. The firm reiterated a “buy” rating on the stock. The research report cited Facebook’s unexpected growth in the recent past, which breached the earlier price target of $38.01. The analysts expect that the stock’s uptrend will continue as the social networking giant has been consistently beating analysts’ expectation on revenue front even as margins are improving incrementally. Shares of Facebook, however, were nearly flat at $41.31 by mid-day trade on Friday.

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