Jefferies Maintains a 'Buy' on Facebook (FB); Zuckerberg's Conference

Jefferies maintains a 'Buy' on Facebook (NASDAQ: FB) price target of $30.00.

Jefferies analyst said, "In an appearance at the TechCrunch Disrupt conference, Zuckerberg said FB would enter the search business "at some point," confirming speculation it will pursue new areas of business over time. Overall, we see upside as FB users increasingly search for brands, places, and apps - inherently valuable commercially-oriented queries. But we won't get too excited until we hear more details, and we note the overlap with Google (Nasdaq: GOOG) is low."

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 $19.43 yesterday.

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