Mizuho analyst James Lee said his recent meetings with industry contacts during a trip to China left him with the impression that the company could have a "realistic opportunity" for entering China next year. He thinks the business will initially connect only Chinese users and be localized. Lee also believes either Instagram or online gaming are most likely as products to start, adding that virtual reality also "appears to be a safe entry" for Facebook given that gaming is less sensitive than social media. The analyst keeps a Buy rating and $230 price target on Facebook shares.