Analysts Hit the Tepid Button on Facebook
Wall Street gave Facebook Inc. an unusually lukewarm reception, with research analysts offering up a higher number of “hold” ratings for the company’s shares than “buys.”
On Wednesday, the door opened for research analysts at banks that worked on Facebook’s initial public offering to publish their views on the social-network company’s shares. Large Wall Street firms are barred for a 40-day period after an IPO from putting out analyst reports on stocks they underwrite. Smaller banks involved in an IPO aren’t legally barred but typically agree to adhere to the delay.
