Buy Facebook before earnings on its video ads, Instagram strength: Analyst

Mark Zuckerberg, founder and CEO of Facebook
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Facebook is one of the best-performing large cap technology stocks so far this year. But even after the big run, one Wall Street analyst recommends the social media giant's shares into its third-quarter earnings report.

SunTrust Robinson Humphrey on Thursday reiterated its buy rating for Facebook, predicting solid results due to its new video ad offerings.

"We expect FB to post strong 3Q results … driven by improvement in monetization and user growth across both Facebook and Instagram," analyst Youssef Squali wrote in a note to clients entitled "Reiterating Buy Ahead of 3Q Results."