UPDATE: Evercore Says Buy Facebook (FB) Shares on 'Any Weakness'; Starts at Equal Weight
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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!
(Updated - June 20, 2012 11:44 AM EDT)
Evercore Partners' Ken Sena initiated coverage on shares of Facebook (NASDAQ: FB) with an Equal Weight rating and $39 price target Wednesday morning.
Sena's neutral stance can be attributed to an expectation for more near-term downside as insiders will be able to sell in the next few months. On a more long-term basis, however, the analyst said he is "very positive" as he believes Facebook will be able to "monetize the mobile experience" and continue expanding market share in advertising.
Amid the Equal Weight rating, Sena said he would be a buyer on "any weakness" in the stock.
Facebook shares are down 1.6 percent to $31.39 at last check.
For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.
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Evercore Partners' Ken Sena initiated coverage on shares of Facebook (NASDAQ: FB) with an Equal Weight rating and $39 price target Wednesday morning.
Sena's neutral stance can be attributed to an expectation for more near-term downside as insiders will be able to sell in the next few months. On a more long-term basis, however, the analyst said he is "very positive" as he believes Facebook will be able to "monetize the mobile experience" and continue expanding market share in advertising.
Amid the Equal Weight rating, Sena said he would be a buyer on "any weakness" in the stock.
Facebook shares are down 1.6 percent to $31.39 at last check.
For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.
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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