CLSA maintains Facebook buying rating

News and technology information Beijing time July 28 The CLSA report said the company did not have a structural problem following its second-quarter results, keeping its stock "buy" rating but lowering its target share price from 40 to 38.

The main contents of the report are as follows:

Facebook's earnings were $1.2 billion in the second quarter, with a non-GAAP profit of $0.12 trillion, with year-on-year growth. The number of mobile and desktop users keeps growing. Because this is the first quarterly report after Faceboo's High-profile IPO, we think investors may not be happy with the results. But from a fundamental analysis, we think Facebook is behaving well in the two quarter and the new product page is doing a good job. However, the company's management plans to adopt a "stability" strategy in the expansion of user size, while ensuring a good user experience. We don't see any structural problems with Facebook, and the slow growth in advertising is just a matter of time. In the long run, we watch the company. Therefore, we maintain the "buy" rating of its stock, but cut its target share price from 40 US dollars to 38 dollars.