SINGAPORE (Apr 3): Phillip Capital believes the Cambridge Analytica scandal has provided investors with a good opportunity to pick up Facebook (FB) at a discount.

The research house expects that the potential fallout from the scandal will be limited and unlikely to permanently damage Facebook's business model.

"We are bullish on FB due to its massive user base, digital advertising growth and valuations given FB’s growth prospects. As such, we believe that stock is undervalued and the current scandal represents a buying opportunity," says Phillip which has a US$159.79 ($209.21) entry price and US$220 target price.

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