Facebook has certainly found at least one ‘friend’ on Wall Street.
Wedbush managing director, Michael Pachter. initiated coverage on the company with an outperform rating and $44 price target.
On CNBC’s Fast Money Halftime Report, Pachter told us the stock could even be worth more than that.
“As an asset, Facebook has 900 million people and a ton of data on those people,” Pachter explains. “If they use 10% of that data – they’re going to be the most valuable company ever.”