Here is the link.
The stock hit an all-time high Tuesday, closing at $280.82, and has roared 105% off its March low. Even after that run, Cowen analysts are still backing the company — the firm on Tuesday set a Street high price target of $330 on the stock, highlighting increased exposure to e-commerce as a major tailwind.
Tatro says the fundamentals are still in Facebook’s favor — the stock trades at 30 times forward earnings, well below the 50 times multiple for the SOCL global social media ETF.
“The company I think is hindered with this regulatory concern, but I think traders can really catch some further upside. I’d keep a stop around the $260 level just in case. But I think this is on its way to the trillion-dollar market cap club,” said Tatro.
Facebook has a market cap of $800.8 billion. To top $1 trillion, its shares would need to reach $351, according to CNBC data. Only four S&P 500 companies — Apple, Amazon, Microsoft and Alphabet — have a market cap of more than $1 trillion.
Actionable Items
I should think about purchase of Facebook stocks.
No comments:
Post a Comment