Piper Jaffray Looks to Upcoming Catalysts for Facebook
Piper Jaffray published a research report on Facebook (NASDAQ: FB) and commented that long-term future for the company is still bright based on both upcoming positive and negative catalysts.
In the report, Piper Jaffray wrote, "We believe FB may be one of the best stocks to own in the large cap tech space. We believe FB shares have the greatest discount to future potential growth compared to other large cap names in our space. There are two potentially significant events for FB in the near term: a potential introduction of a "Want" button (positive) and the expiration of Facebook's biggest share lockup in November (negative). History suggests investors may continue to exit FB going into lockup (biggest is Nov 15th), but history also shows it is unlikely shares will be impacted following the actual lockup expiration."
Piper Jaffray maintained its Overweight rating and $41 price target on Facebook, which closed Wednesday at $19.10.
Latest Ratings for FB
|Mar 2017||BTIG Research||Upgrades||Neutral||Buy|
|Feb 2017||Pivotal Research||Downgrades||Buy||Hold|
|Jan 2017||Pacific Crest||Reinstates||Overweight|
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