Alisher Usmannov, the Uzbekistan born Russian billionaire who also happens to be one of the biggest shareholders in Facebook Inc. (NASDAQ: FB), believes that social networking giant’s true potential “has not been understood” by investors—surprisingly not even by the Company itself.
In an interview to CNBC, Usmannov said that investors will find Facebook surging ahead in the future even as he showed satisfaction over the outcome of highly publicized and biggest IPO of 2012.
Speaking to CNBC, Usmanov, who is the founder of USM Holdings and richest man in Russia, according to Forbes, said, “We are actually waiting for the next surge. We believe the company could be even more successful. Because this is a company that has faith in its prospects, faith in its creator Mark Zuckerberg.”
Usmanov, who bought his stake in Facebook in 2009, has made more than $1 billion by partially offloading his stake after the lockup period required. When asked about whether he would sell his remaining stake once next lockup period expires in May 2013, Usmanov replied, “We will See”.
Quite a few Wall Street firms have also boosted their outlook on FB stock, lately.
On Wednesday Cantor Fitzgerald raised its price target on stock to $33 from $28, citing company’s growing traction in mobile advertising. “In all, we view Facebook as a prime beneficiary of growth in mobile advertising/e-commerce and view its shares as an attractive play on this trend,” said analysts at Cantor Fitzgerald. The Firm holds “buy” rating on Facebook.
A day before Capstone lifted its price target on Facebook to $35 from $26. Capstone also kept “buy” rating on stock.
Earlier on November 27, analysts at Sterne Agee boosted FB’s price target to $32 from $26, keeping a “buy” rating on the stock. In a note to investors, analysts said that with majority of lockup periods expired and company’s improved visibility in mobile transactions along with potential opportunity from new products, would bode well for FB shares.
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