New York, August 1 (alphajetsusa.com) – After declining to an intra-day low of $22.11, shares of Facebook Inc (NASDAQ: FB) skidded by 4.3 percent to $22.16 yesterday.
With a target price of $23 per share, analyst Carlos Kirjner at Bernstein Research upgraded the stock of the company from UNDERPERFORM to MARKET PERFORM.
However, the stock Facebook has been argued by Kirjner to be worth $19 per share and this conclusion basically depends on the latest trajectory of growth, ascertaining no material upside from social advertising or opportunities of new business, ‘or’ considering FB just as a publisher of display advertising.
Even though, adding to the note, he said that an incremental of $4 per share to upside from social advertising and from potential businesses has been attributed that is yet to be defined and built and due to this, conclusion comes at the target price of $23 per share.
Additionally, till the time of public trading debut of FB in the month of May, its stock has lost more than 40 percent, Kirjner added.