Sunday, May 6, 2012

Facebook Target Price at US $44 - Wedbush Securities Inc

Facebook Inc received a "buy" recommendation from Wedbush Securities Inc and a target price of US$44, its first rating since announcing plans to sell shares in a range of US$28 to US$35 in an initial public offering. 

Facebook, owner of the world’s most popular social- networking company, should benefit from its large, growing user base that will help attract more spending by advertisers and boost revenue and earnings, Michael Pachter, an analyst at Wedbush in Los Angeles, said yesterday in a note to investors. 

Mobile advertising could play an especially important part of the growth in advertising, Pachter said. -- Bloomberg

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