Cantor Fitzgerald Starts Facebook (FB) at Buy, King in Social

Cantor Fitzgerald initiates coverage on Facebook (NASDAQ: FB) with a Buy. PT $26.00.

The firm comments, "Facebook has become the foundation of the social Web, leveraging The Social Graph to build the largest online network and generate significant value for users/developers/advertisers. Facebook is still in its early phase of monetization, and despite its enormous reach, time spent, targeting capabilities and social context, it accounts for only ~6% of global online ad spending, by our estimate. We're positive on the stock long-term despite a botched IPO and a massive lock-up expiration that's likely to keep a lid on FB short-term."

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 $23.29 yesterday.

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