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Facebook CEO Mark Zuckerberg speaks during the F8 Facebook Developers conference on May 1, 2018 in San Jose, California.
Facebook’s market leading position in the advertising market is unmatched, according to Jefferies.
The firm raised its price target to $240 from $215 for Facebook shares, predicting its second-quarter sales results will be above expectations. Jefferies also reiterated its buy rating for the company.
“We see continued strength from advertisers seeking the best ROI online and FB continuing to deliver best-in-class capabilities for advertisers,” analyst Brent Thill said in a note to clients Friday….
