UBS Sees Facebook As Possible Candidate To Replace Molex In S&P 500, Shares Moving Higher

Shares of Facebook 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 MOLX in the S&P 500. The UBS strategist noted the addition could be announced as soon as Wednesday evening. Rose sees lululemon LULU, Liberty Media LMCA, and Tractor Supply TSCO as further possible candidates to replace Molex. UBS's Eric Sheridan currently has a Buy rating and $62 price target on shares of Facebook.