JPMorgan analyst Doug Anmuth raised his price target for Facebook to $225 and $210 and recommends buying the shares today on any post-earnings selloff.
The stock in premarket trading is down 1% to $180.80 following last night's Q3 earnings report. Facebook continues to show a "rare and impressive" combination of scale, growth and profitability, Anmuth tells investors in a research note. The company's guidance for a significant acceleration in operating expenses in 2018 will likely prove conservative as management has a well-documented history of lowering its expense guidance through the course of the year, the analyst contends. Anmuth reiterates an Overweight rating on Facebook.
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