Price Target raised to $110 from $94 at Cowen, reiterates Outperform rating
- Firm now expects total revenue CAGR of 27.1% vs. 25.6% prior driven by higher mobile and video advertisement estimates (following +ve checks during the quarter) and EBITDA CAGR of 29% vs. 27%, given high leverage from incremental advertising revenue
- Firm raises their 2015e EPS to $2.09 from $2.08 prior and raises 2020e to $7.19 from $6.58 prior, a 28% CAGR (vs. 26% prior)