Why This Analyst Could See Facebook's Stock Going To $300

On CNBC's "Squawk Box Asia," Brent Thill of Jefferies spoke about Facebook, Inc. (NASDAQ: FB). He has a Buy rating for the stock and a price target of $250, but he think it could easily reach $300, with $12 per share earnings and a mid-20 multiple.

Thill finds the advertising boycott disappointing, but he said advertisers will get through this. He sees the situation as a bump on the road.

Facebook is a big platform and everybody is going to have an issue with its technology or with the way the management runs it, said Thill. He added that there are a lot of people who use it every day and it's doing a great thing for small business during the crisis. He thinks there are more advertisers joining the platform than leaving it.

Facebook's stock last closed at $240.86 per share.

See Also:

Why Pompeo Says The US Could Ban TikTok

Advertising Boycott Likely To Continue As Civil Rights Groups And Facebook Fail To Make Progress At Talks