Jefferies Starts Facebook (FB) at Buy; Strong Fundamentals and 'Like' Potential

Jefferies initiates coverage on Facebook (NASDAQ: FB) with a Buy. PT $30.00.

Jefferies analyst said, "With a potent mix of unprecedented scale, high engagement, and social + behavioral targeting, we think Facebook is must-buy media for marketers as they follow users online. Lockup pressure looks inevitable through Dec. But expansion into other business areas also looks inevitable, and at the current price investors effectively receive this optionality for free. Following a 50% share retreat since the IPO (0.7 PEG), we see lots to Like."

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 $17.73 yesterday.

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