27.04.2012, Твое-Авто Coach Outlet, 07.05.2012 05:40:33
| Facebook shares traded sharesit may seem like every securities firm in America is involved in the Facebook IPO. All those firms are, of course, barred by law from issuing research reports ahead of the IPO. But Wedbush Securities wasn’t an underwriter, and they’re out today with what appears to be the first public research on the much-hyped web darling.Wedbush’s Michael Pachter started the shares at outperform with a $44 price target. Reached by phone, Pachter said the firm made a conscious decisions not to seek a piece of the IPO action, in part so they could write about it, and help the firm’s clients who have traded Facebook shares in the private market.pre-IPO report is “highly unusual,” Pachter acknowledged, but said Wedbush has been active in the private market for Facebook shares, and he’s been covering the company for about a year.lapping the $44 price target on Facebook shares, he said, is one way to send the signal that the proposed $28-$35 range is “pretty silly.”There’s tons of mand in the private market, he said, amid light supply. Thefirm traded shares at $31 in January, Pachter said and itgone straight up since then, traded at $44 most recently, and that’s with a six-month lock-up period, he the firm’s clients who have traded 12’ll may have to revisit his price target after the IPO. It could go to $70 the first day.So, MarketBeaters, what do you think? Does $44 sound about rightFeel free to cast Pachter said the firm made a conscious decisions not to seek a piece of the IPO action, in part so they could write about it, and help he pointed out Pachter said 89 |