UBS Sees Facebook As Possible Candidate To Replace Molex In S&P 500, Shares Moving Higher
Shares of Facebook (NASDAQ: FB) jumped more than a percent and a half over the last hour following the mid-day release of a research note from UBS's Trista Rose. The stock is now up more than 3.2 percent to around $48.26.
Rose believes Facebook could be one of the companies which will replace Molex (NASDAQ: MOLX) in the S&P 500. The UBS strategist noted the addition could be announced as soon as Wednesday evening.
UBS's Eric Sheridan currently has a Buy rating and $62 price target on shares of Facebook.
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