One Analyst Thinks Facebook Shops Could Make Facebook a $275 Stock: Is He Right?
Last week, Facebook (NASDAQ: FB) rolled out Shops in a bid to help small business owners set up a digital storefronts on its social media platforms. The company said setting up a Shop will be free to users, with Facebook taking a small cut of each transaction. The move was cheered by investors, pushing the stock to all-time highs.
This additional foray into e-commerce provides Facebook with the potential for significant upside, according to Citi analyst Jason Bazinet, who raised the firm's price target to $275 from $245, implying 22% upside from the current price. Let's look at his logic to see if it gets a thumbs up.
Source Fool.com
