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Facebook Up 2% As Stifel Raised Price Target

As Stifel analyst Jordan Rohan bumped his price target up from $72 to $82, Facebook stock shot up 2%, reaching $70.16. The reason for the change is his belief that marketers often use facebook as a strategic communications platform, to reach out and create relationships with potential clients. After proving the ads' success, it is very likely that clients' marketing budgets will be spent mostly on facebook.

Not all is smooth and sure however, Rohan is still worried about their decision to acquire WhatsApp for $19 billion. However, due to facebook's history, investors will probably allow the company to take more risks in exchange for potential gains.