Investing.com - Research firm BTIG raised it stock price target on Facebook (NASDAQ:FB) more than 50%, saying both its Instagram unit and core social media site are performing better than expected.BTIG boosted its 12-month forecast to $275 a share, the highest among Wall Street firmsBTIG says Instagram Stories now has more than 400 million daily active users, twice that of rival Snapchat.Instagram recently launched a new app called IGTV, which allows users to watch full-screen, hour-long videos.BTIG also says Facebook does not appear to be losing as many young users as previously thought. Wells Fargo (NYSE:WFC) recently raised its price forecast to $250. Facebook shares are up 11% this year, having recovered from a sharp selloff triggered by a data breach scandal in March.
