JPMorgan analyst Doug Anmuth raised his price target for Facebook (FB) shares to $210 saying the company last night reported another strong quarter. The stock in premarket trading is up 4% to $172.60.

Facebook continues to show a "rare and impressive" combination of scale, growth, and profitability, Anmuth tells investors in a post-earnings research note. He believes the valuation remains attractive even with the shares up 49% year-to-date. Facebook remains the analyst's favorite large-cap name.