In a report published Tuesday, S&P Capital analyst S. Kessler reiterated a Buy rating on Facebook FB.
In the report, S&P Capital noted, “FB announces that PayPal's (EBAY $49.58 ***) President, David Marcus, is joining the company to lead its efforts in mobile messaging. We are not sure exactly when Marcus is set to start at FB and whether his purview would include WhatApp (pending the acquisition's completion). Nonetheless, we think hiring a high-profile leader like Marcus signals that FB wants to increasingly focus on innovating around and monetizing its mobile messaging offerings. We also wonder whether Marcus will look to better establish FB in mobile payments, which we see as an obvious business opportunity.”
Facebook closed on Monday at $62.88.
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