UPDATE: Rodman & Renshaw Reiterates Outperform, $7 PT on Quepasa; Facebook IPO Brings Attention
Rodman & Renshaw remains rated Outperform on Quepasa (NYSE: QPSA) and maintains its $7 price target on shares.
Rodman & Renshaw notes, "Today,Facebook (FB, Not Rated) is coming out with its own IPO. The company joins a host of other social media / network plays that have come public over the last two years. We believe this IPO caps the ‘social network' investment theme and early stage investors should have already moved onto other emerging technology opportunities. Facebook's reach and audience engagement combination is relatively unprecedented and as a result investors should expect creative revenue models to emerge for this company."
QPSA closed at $3.91 on Thursday.
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