Goldman Sachs Starts Facebook (FB) at Buy

Goldman Sachs initiates coverage on Facebook (NASDAQ: FB) with a Buy rating and $42 price target.

Social platforms are helping usher in the next era of the web, which they call the '#TheIntelligentWeb" and Facebook is leading the way.

"In our view, given its user base and leading social platform, Facebook is poised to dominate this next phase of the internet and as such will maintain industry high growth rates throughout next decade," the analyst said. "We believe concerns over "Facebook fatigue" are overstated while the potential for material upside to CPMs is underappreciated."

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.

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