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    Analyst says he likes Facebook

    Facebook’s stock is still down 32 percent from its initial public offering price of $38. Above, chief executive Mark Zuckerberg on the stock’s debut day in May.
    Shannon Stapleton/Reuters/File 2012
    Facebook’s stock is still down 32 percent from its initial public offering price of $38. Above, chief executive Mark Zuckerberg on the stock’s debut day in May.

    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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