Facebook (FB) Remains In Focus Ahead of IPO Quiet Period Expiration
Tweet Send to a Friend
Get Alerts FB Hot Sheet
Price: $24.31 +0.41%
Rating Summary:
28 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
28 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade FB Now!
Although the stock is 25 percent off the post-IPO lows, Facebook (Nasdaq: FB) shares continue to be in focus ahead of the quiet period expiration on Wednesday, June 27th.
Once the quiet period expires, analysts at underwriters including Morgan Stanley, JPMorgan, Goldman Sachs, BofA/Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank, RBC, Wells Fargo will be free to formally issue Buy, Sell and Neutral ratings.
So far, a number of analysts from non-underwriting firms have already picked up coverage. According to the latest data at StreetInsider.com's Ratings Insider, there are 9 Buy ratings, 6 Neutrals and 1 Sell. The average price target is $38.77, or 21 percent above current levels.
One report that will be doubly-interesting to look at will be from Morgan Stanley's Scott Devitt. He caught heat after lowering his numbers just a few days before the IPO hit the Street. The estimate cut has raised questions that institutional investors were given preferential treatment by getting access to information retail investors didn't get.
While the ratings from the underwriters should be taken with a grain of salt, the numerous expected 'Buy' ratings could help propel the still-recovering IPO higher.
Keep it on your radar.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Once the quiet period expires, analysts at underwriters including Morgan Stanley, JPMorgan, Goldman Sachs, BofA/Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank, RBC, Wells Fargo will be free to formally issue Buy, Sell and Neutral ratings.
So far, a number of analysts from non-underwriting firms have already picked up coverage. According to the latest data at StreetInsider.com's Ratings Insider, there are 9 Buy ratings, 6 Neutrals and 1 Sell. The average price target is $38.77, or 21 percent above current levels.
One report that will be doubly-interesting to look at will be from Morgan Stanley's Scott Devitt. He caught heat after lowering his numbers just a few days before the IPO hit the Street. The estimate cut has raised questions that institutional investors were given preferential treatment by getting access to information retail investors didn't get.
While the ratings from the underwriters should be taken with a grain of salt, the numerous expected 'Buy' ratings could help propel the still-recovering IPO higher.
Keep it on your radar.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: BofA/Merrill Lynch Downgrades Cliffs Natural Resources (CLF) to Underperform
- UPDATE: MannKind Corp. (MNKD) Crashes
- Sony (SNE) Won't Consider Loeb's Entertainment Spinoff Proposal at AGM
Create E-mail Alert Related Categories
Analyst Comments, IPOs, Trader TalkRelated Entities
Credit Suisse, Deutsche Bank, JPMorgan, Citi, Morgan Stanley, Merrill Lynch, Bank of America, Barclays, Wells Fargo
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
