FACEBOOK is the cheapest its been since inception target: $285

From a top-down view of the economy, we are seeing an expansionary environment albeit at a slower pace. Using net income versus operating expenses Facebook is the cheapest its been since its inception back in 2012.

Near term headwinds are likely to prevail in tandem with the broader averages and a near term target of $144 is likely before we move higher into our $285 target to end the cycle.