Facebook Analysts See Shares Staying Less Than $38 IPO Price
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Facebook Inc. analysts including those at lead underwriter Morgan Stanley say the social-network operator is worth no more than its debut price of $38.
At least 17 securities firms began coverage of the company today, bringing the average analyst share-price estimate to $37.95, data compiled by Bloomberg show. Morgan Stanley gave Facebook the equivalent of a buy rating, as did JPMorgan Chase & Co., Goldman Sachs Group Inc. and five other firms. There were eight holds and one sell, the data show.