A number of firms have modified their ratings and price targets on shares of Facebook (NASDAQ: FB) recently:

  • Facebook had its “overweight” rating reaffirmed by analysts at JPMorgan Chase. They now have a $30.00 price target on the stock, down previously from $45.00. They wrote, “We remain positive on Facebook as we expect Advertising revenue to re-accelerate in the back half of 2012 and into 2013, even as users rapidly shift toward mobile. We recognize that Payments will remain challenging for at least the next few quarters and we are reducing estimates for Payments revenue and overall profitability. Street focus remains on heavy lock-up expirations in October and November, but for those willing to look out a bit further we believe the risk/reward is attractive with Facebook trading at 7.5x 2014E EBITDA.”
  • Facebook had its price target lowered by analysts at Morgan Stanley to $32.00.
  • Facebook is now covered by analysts at Jefferies Group. They set a “buy” rating and a $30.00 price target on the stock.
  • Facebook had its “equalweight” rating reaffirmed by analysts at Barclays Capital.
  • Facebook had its “outperform” rating reaffirmed by analysts at Robert W. Baird.

Facebook opened at 19.43 on Wednesday. Facebook has a 1-year low of $17.55 and a 1-year high of $45.00. The company has a market cap of $41.626 billion and a price-to-earnings ratio of 67.23.

Facebook, Inc. (Facebook) is engaged in building products to create utility for users, developers, and advertisers.