May 18, 2012, 10.17 PM IST | Source: Reuters

Facebook gets early brokerage 'sell' rating

Facebook Inc received what may be its first "sell" rating on Friday, from Pivotal Research Group, which also set a target price of $30 for the stock.

Facebook gets early brokerage 'sell' rating

Facebook Inc received what may be its first "sell" rating on Friday, from Pivotal Research Group, which also set a target price of USD 30 for the stock.

Shares in the No. 1 social network fizzled in their debut on Friday, managing an 18% gain before backtracking to trade close to their USD 38 initial public offering price.

"We are wary of the disconnect between revenue growth and operating/capital expense growth expectations," Pivotal analyst Brian Wieser said in a research note. "The market is pricing Facebook as a less risky asset than Google , which we believe is simply not the case."

Facebook shares were up nearly 8% to USD 40.82 on the Nasdaq.

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Narendra Modi

99374.06 2,015.63 2.07%

1238

Bought today

1290

Sold today

1.07%

User holding

video of the day

Add cyclicals, banks on positive poll outcome: UBS

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.