Facebook stock gains as at least 2 analysts hike price target ahead of earnings

Shares of Facebook Inc. are up 0.6% in premarket trading after analysts at Stifel and Piper Jaffray raised their price targets ahead of the company‘s July 25 earnings report. "DAU trends will continue to face close scrutiny; we expect modest positive net additions in North America and flattish trends in Europe following the rollout of the GDPR," wrote Stifel analyst Scott Devitt. He has a buy rating on the stock and increased his price target to $242 from $202. Piper Jaffray‘s Michael Olson raised his target to $250 from $210, writing of his optimism that Facebook will be able to monetize newer areas going forward, including Marketplace and the Watch tab. Facebook shares are up 26% over the past 12 months, while the S&P 500 has gained 13%.