Technology

Analysts Boost Price Targets on 4 Top-Large Cap Technology Winners

Facebook

The huge social media leader has been on a roll, and the analysts remain very positive. Facebook Inc. (NASDAQ: FB) is the largest social network, with over 2.3 billion monthly active users and over 1.6 billion daily active users. The company generates revenue from advertising and from payments, with over 95% of revenue from advertising. It generates close to 50% of revenues in the United States and Canada and is expanding rapidly in international markets.

The company’s solutions also include Instagram, a mobile application that enables people to take photos or videos, customize them with filter effects, and share them with friends and followers in a photo feed or send them directly to friends. Messenger, a messaging application for mobile and web on various platforms and devices, enables people to reach others instantly, as well as enable businesses to engage with customers. WhatsApp Messenger is a mobile messaging application.

The company has been under intense scrutiny lately, with some alleging there has been unreasonable censorship, and it is yet another that may be targeted by either Congress or the Department of Justice, or perhaps both. With that noted, it remains one of the largest and most powerful social media platforms in the world.

The analysts said this:

The company posted a fourth quarter beat with ad revenues growth +30% ex-currency accelerating 7% points year-over-year and 2021 margins estimates likely moving higher. First half outlook strong, but second half outlook still cautious on regulatory uncertainties plus much tougher 2021 second half comparisons. Raising estimates on ecommerce strength and currency, and see upside potential on shopping traction in 2021.

The BofA Securities price target on Facebook stock was raised to $358 from $345. That compares with a $325 consensus target and Thursday’s $273.85 closing price.

Lam Research

This remains one of the top chip equipment picks across Wall Street. Lam Research Corp. (NASDAQ: LRCX) designs, manufactures, markets, refurbishes and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide.

The company offers ALTUS systems to deposit conformal films for tungsten metallization applications, SABRE electrochemical deposition products for copper damascene manufacturing, SOLA ultraviolet thermal processing products for film treatments and VECTOR plasma-enhanced chemical vapor deposition atomic layer deposition products.