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Canaccord Genuity Initiates Coverage on Facebook

By Warren Paige

Equity research analysts at Canaccord Genuity initiated coverage on Facebook (NASDAQ: FB) from Wednesday. The firm assigned a “buy” rating and set a price target of $60.00. The price target implies an upside potential of 23.84% over Tuesday’s closing stock price. In the research report, analyst said that the reason behind initiating coverage of FB with a “buy” rating was the belief that company’s is still in a very early stage of generating revenue from its huge user base, despite twofold jump in its stock price.

September 25th, 2013 | Tags: | Category: Large Cap Growth Stocks, Social Media Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.