UPDATE: Barclays Starts Facebook (FB) at Equalweight; Leadership Valuation, But Not Capitalizing on Every Front

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(Updated - June 27, 2012 12:34 PM EDT)

Barclays initiates coverage on Facebook (NASDAQ: FB) with a Equalweight. PT $35.00.

Analyst, Anthony DiClemente, said, "FB's combination of TV-like reach, engagement, and targetability will allow it to take material share of online advertising. Its sheer scale and user's time spent provide advertisers with a robust platform that can deliver ads to a large number of users with laser-like targeting by demographic and by preference...However, we are cognizant of lofty valuation, mobile monetization uncertainty, and share lock-up expiry. FB currently does not derive any meaningful revenue from its increasing mobile usage and has not yet proven its ability to do so."

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 $33.10 yesterday, with a 52 week range of $25.52-$42.99.

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