Despite the beating Facebook Inc.’s shares has taken since its May 18 debut, the stock still has quite a number of analyst fans.
On Wednesday, the social networking giant’s stock
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FB
got a lift from a market outperform rating from JMP Securities — though analyst Mark Harding’s price target of $37 was off a buck from Facebook’s initial public offering price of $38.
Still, the stock was trading up more than 1% to $26.19 Wednesday, no doubt benefitting from JMP’s view that while “valuation appears high,” Facebook has plenty of opportunities to monetize its vast user base.”
On Tuesday, Facebook also got an upgrade SP Capital IQ which raised its rating to hold from sell.
The stock began the week on a sour note with sell rating from Bernstein Research analyst Carlos Kirjner who also set a price target of $25.
But on balance, despite all the negative vibes from Wall Street, the stock actually has a mean overweight rating according to FactSet Research with buy rating from Morningstar, Wedbush and Susquehanna.
-Benjamin Pimentel
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