Facebook's Stock Rally Takes Wall Street by Surprise

Analysts fail to keep pace with the social network’s surging shares
Photograph by Joel Saget/AFP via Getty Images

Wall Street analysts are racing to catch up with Facebook’s stock rally. Shares of the world’s biggest social network have jumped 28 percent so far this year through March 11, compared with a 1 percent gain for the Standard & Poor’s 500-stock index. The upward move has put the 49 analysts who cover Facebook in a bind: While 38 recommend the company with the equivalent of a buy rating, 16 of them have share-price targets below where Facebook is trading, according to data compiled by Bloomberg.

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