Today is 40 days after Facebook began trading, analysts are now allowed to offer their opinions on the stock publically. 33 analysts across Wall Street gave their target prices this morning, ranging from $25 to $45 and averages at $37.71, just a touch below its IPO price. Most positive targets came from JP Morgan, which is one of the main underwriters, Piper Jaffray, Oppenheimer and Goldman Sachs. Most negative targets are seen from Sanford Bernstein and BMO Capital Markets.
What’s the most interesting is Facebook’s lead underwriter, Morgan Stanley, is setting the one year target at $38, which is exactly what was priced at the IPO. Morgan Stanley believes the major factor to watch is how Facebook handles advertising pricing going forward.
For more news and updates, keep it right here at the Financial News Network. I’m Julia Sun.