Fast Money " PIPER JAFFRAY SAYS FB GOING TO $ 42" LINK
Facebook Headed to $42 Per Share: Munster
Published: Monday, 24 Sep 2012 | 5:35 PM ET
By: Bruno J. Navarro
Facebook [FB 20.79 -2.07 (-9.06%) ] could still deliver 35 percent year-over-year growth, despite its stock having dropped precipitously since its IPO, Piper Jaffray’s Gene Munster said Monday on CNBC.
On “Fast Money,” Munster said that the long-term potential of the social media giant cannot be discounted, adding that the company still had “three major levers they can pull in terms of monetization.”
With a more expensive valuation than Google [GOOG 749.38 15.39 (+2.1%) ], Facebook had more upside potential, he argued.
Meanwhile, Munster had an “overweight” rating on the stock and a price target of $42 per share.