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The Boston Globe

Business

Market Movers

Analyst says he likes Facebook

Facebook surged after an upgrade to “outperform” by Bernstein Research’s Carlos Kirjner, who says that Wall Street is underestimating Facebook’s potential. Revenue is apt to hit $6.98 billion in 2013, or 9 percent higher than the average estimate, driven by growth in mobile advertising, he said. In 2011, the social network’s revenue was $3.71 billion.

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