Shares of Facebook Inc. are up 0.7% in premarket trading after MKM Partners analyst Rob Sanderson raised his price target on the stock to $255 from $240. "We think the Street is overly conservative in forecasting revenue deceleration," wrote Sanderson, who rates the stock a buy. "Revenue growth has been much more resilient than expected and for the past four quarters, revenue has materially exceeded consensus." Sanderson also said that he thinks Europe's GDPR rule, which took effect late last month, "is more likely to help Facebook than hurt" it since the company is less reliance on third-party data than smaller rivals. Facebook shares are up 27% over the past 12 months, while the S&P 500 has gained 11%.