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Tags: Facebook | Stock | shares | upgrade

Facebook Stock Climbs After Upgrade on Revenue Growth Potential

Monday, 26 November 2012 11:54 AM EST

Facebook's stock is climbing after an upgrade from an analyst who believes Wall Street is underestimating the company's potential to grow revenue.

Bernstein Research analyst Carlos Kirjner said Monday that Facebook Inc. is likely to beat Wall Street's revenue expectations over the next 12 to 24 months. He expects Facebook to hit $6.98 billion in revenue in 2013, some 9 percent higher than the average analyst's expectation. In 2011, the social network reported revenue of $3.71 billion.

Kirjner upgraded Facebook's stock to "Outperform" from "Market Perform," saying that mobile advertising will drive revenue growth.

Facebook's stock is up $1.85, or 7.7 percent, at $25.84. It's still down 32 percent from its initial public offering price of $38.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


InvestingAnalysis
Facebook's stock is climbing after an upgrade from an analyst who believes Wall Street is underestimating the company's potential to grow revenue.Bernstein Research analyst Carlos Kirjner said Monday that Facebook Inc. is likely to beat Wall Street's revenue expectations...
Facebook,Stock,shares,upgrade
117
2012-54-26
Monday, 26 November 2012 11:54 AM
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