Facebook analysts give mixed reviews
The Wall Street analysts who know Facebook best are giving the company’s stock a mixed review. Think like, not love.
A flood of analyst reports from 33 banks gave Facebook’s stock a mix of “neutral” and “buy” ratings on Wednesday. At least one review equated to a “sell” rating.
At the end of the 40-day quiet period following Facebook’s initial public offering, analysts at banks that led the IPO finally could give public opinions on the stock. Facebook’s IPO landed with a thud on May 18, with the stock closing just 23 cents above its $38 IPO price. It hasn’t fared much better since. On Wednesday, it fell 87 cents, or 2.6 percent, to close at $32.23.