NEW YORK – The Wall Street analysts who know Facebook best are giving the company’s stock a mixed review. Think: like, not love.
A flood of analyst reports from 33 banks gave Facebook’s stock a mix of “Neutral” and “Buy” ratings on Wednesday. And there was at least one review that equated to a “Sell” rating.
It marked the end of the 40-day quiet period following Facebook’s initial public offering. Analysts at banks that led the IPO were finally allowed to give public opinions on the stock, offering the first glimpse of what the IPO’s underwriters really think about Facebook.
Facebook’s much-ballyhooed IPO landed with a thud on May 18, with the stock closing just 23 cents above its $38 IPO price.
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