May 18, 2012, 10.17 PM IST
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.
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
Facebook shares were up nearly 8% to USD 40.82 on the Nasdaq.
Video of the day
Dec 13 2013, 10:39
- in MARKET OUTLOOK
Dec 4 2013, 11:08
- in FII View
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.