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Fly News Breaks for July 27, 2015
FB
Jul 27, 2015 | 08:20 EDT
BofA/Merrill raised Facebook Q2 estimates to 48c/$3.98B, in-line with consensus of 47c/$3.98B, based on solid industry trends and social channel checks. The firm said expectations are high for another strong quarter and Facebook may need to report Q2 revenue around $4.05B and mid-50s ex-FX ad growth in order to maintain stock momentum. BofA/Merrill remains positive on Facebook's usage fundamentals and monetization opportunity and reiterates its Buy rating and $105 price target on shares.
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