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Facebook Q2 2019 Earnings Note

Facebook Q2 2019 Earnings Note

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We are maintaining our Buy rating on Facebook with a 12-month price target of $244, implying 22.2% upside.

While Facebook will likely devote incremental spend into FTC compliance and the cadence of product releases could shake out to be slightly dilatory in nature, we’re still notably confident that advertising prospects are ripe, given a healthy North American market and a rapidly growing Asia-Pacific region.

Read the rest in the note.