UPDATED 12:55 PM EST, November 26, 2012
NEW YORK (AP) — Facebook's stock is climbing after an upgrade from an analyst who believes Wall Street is underestimating the company's potential to grow revenue.
Bernstein Research analyst Carlos Kirjner said Monday that Facebook Inc. is likely to beat Wall Street's revenue expectations over the next 12 to 24 months. He expects Facebook to hit $6.98 billion in revenue in 2013, some 9 percent higher than the average analyst's expectation. In 2011, the social network reported revenue of $3.71 billion.
