Facebook Sizzles on Wall Street Analyst’s Bump

After an arguably crummy 2012 for Facebook, it is kicking off 2013 on a positive note: J.P. Morgan raised its price target on the social network giant from $29 to $35 at the start of the year, citing the progress the company has made with its mobile advertising business unit. Morgan research analyst Doug Anmuth said positive advertiser feedback on Facebook’s mobile and news feed ads, along with its ability to leverage third-party data through its Facebook Exchange and Custom Audiences “can drive improvements in Desktop yield.”

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Facebook Sizzles on Wall Street Analyst’s Bump

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