Bank of America Merrill Lynch Increases Facebook Target Price, Cites Graph Search

Facebook’s announcement about its new graph search feature Tuesday impressed at least one analyst on Wall Street, as Bank of America Merrill Lynch Analyst Justin Post upped his price target for the social network’s shares to $35 from $31.

According to MarketWatch, Post wrote that graph search was “an example of Facebook’s ongoing innovation to increase engagement and potential to add revenues to the platform.”

MarketWatch reported that B of A maintained a buy rating on the social network’s stock.

Related Stories
Mediabistro Course

Facebook Marketing

Facebook MarketingStarting Janaury 13, work with the group marketing manager of social media at Microsoft/BingAds to build a fan base and grow your business on Facebook! In this course, Geoffrey Colon will teach you how to set up and enhance your company page, understand best practices and measuring your success, execute a monthly content strategy, and incorporate Facebook into your overall marketing efforts. Register now!