Jefferies analyst Brian Fitzgerald raised his estimates for Facebook (FB) ahead of the company's Q4 results citing strength in mobile. The online advertising companies with strong mobile businesses look best positioned in Q4, namely Alphabet (GOOGL, GOOG), Criteo (CRTO) and especially Facebook, Fitzgerald tells investors in a research note previewing the Q4 results for the Internet space.
Fitzgerald raised his Q4 earnings per share estimate for Facebook to $1.05 from 96c, 1c above the consensus, and revenue estimate to $8.54B, slightly above the Street. He also upped his price target for the shares to $175 from $170. Fitzgerald keeps a Buy rating on Facebook. The stock closed yesterday at $128.93.
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