Shares of Facebook Inc. were up 1.5% to $76.10 in recent trade after the social network was initiated at buy with a $105 price target at MKM Partners. In a note issued to clients earlier on Friday, analysts said they think Instagram monetization will pick up in 2015 and be a "significant contributor" in 2016 and 2017. They're also bullish on Facebook's video ads, which they admit have been a "negligible contributor" to Facebook's revenue growth so far. They see video potentially becoming the "largest growth driver" for Facebook over the next decade as video watching increases. Meanwhile, the analysts are betting that Facebook Messenger and WhatsApp, which Facebook acquired in February for $19 billion, continue as the "primary communications" tool among users for many years, perhaps decades. They said messenger apps will potentially serve as the "sustainable underlying service layer" that helps to "solidify Facebook's position well into the future."
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