Facebook: Evercore Starts at Hold on Mobile Concerns
Posted on June 20, 2012 at 11:09 AM EDT
Evercore Partners’s Ken Sena today starts coverage of Facebook (FB) with an Equal Weight rating, writing that his assessment of the stock’s value is now 18% lower than it was before the company’s May 18th IPO, setting a target price of $39. “The downwardly revised valuation reflects our incremental concern over Facebook’s mobile Payments & [...]