Gene Munster is Hot for Facebook (FB)
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Price: $24.31 -2.99%
Rating Summary:
25 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
25 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade FB Now!
Shares of Facebook, Inc. (NASDAQ: FB) are getting some rare Wall Street love this morning from non-other than famed Apple analyst Gene Munster at Piper Jaffray.
Like he was on Apple some 4000 percent ago, Munster is hot about Facebook now.
He said the stock offers the greatest discount to future potential growth compared to other large cap tech stocks and the outlook is bright longer-term.
Muster sees upcoming catalyst including a potential "want," and positive data on mobile sponsored stories.
He warns however that the upcoming November 15th lock-up expiration could be an overhang, although he doesn't see shares heavily impacted following the expiration.
He is maintaining his Overweight rating and $41 price target.
For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.
Shares of Facebook closed at $19.10 yesterday, with a 52 week range of $18.75-$42.99.
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Like he was on Apple some 4000 percent ago, Munster is hot about Facebook now.
He said the stock offers the greatest discount to future potential growth compared to other large cap tech stocks and the outlook is bright longer-term.
Muster sees upcoming catalyst including a potential "want," and positive data on mobile sponsored stories.
He warns however that the upcoming November 15th lock-up expiration could be an overhang, although he doesn't see shares heavily impacted following the expiration.
He is maintaining his Overweight rating and $41 price target.
For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.
Shares of Facebook closed at $19.10 yesterday, with a 52 week range of $18.75-$42.99.
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
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