Summit launches Buy on Facebook, ‘king of social media’ – Facebook, Inc. (NASDAQ:FB)

Sep 27, 2019 | Social Media Marketing | 0 comments


Summit Insights has initiated coverage on Facebook (FB -2.2%) at Buy with a strong endorsement, pointing to “tremendous” earnings power and cash generation.

That’s due to a wide moat as “the undeniable king of social media, online advertising revs, and users,” analyst Jonathan Kees says.

There’s headline risk from regulatory fronts, but the company has multiple and expanding revenue drivers, including “establishing e-commerce on Instagram, contextual advertising in video, and extending advertising into WhatsApp and Messenger.”

The firm has a $220 price target, implying about 25% upside from a current $176.11.

Sell-side analysts rate Facebook Outperform on average, and Seeking Alpha authors are Bullish. It has a Quant Rating of Neutral.


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