"Analysts" Launch "Research" "Coverage" of Facebook Today

Yes, those are ironic quotation marks I’m using.

But whatever, the Facebook research coverage launched this morning.

Below are the underwriters’ ratings for the fledgling IPO that recently dropped from their nest and splattered on the pavement.  Thanks to my friend John “Doc Hollywood” Melloy for this roundup:

6 Buys, 3 Neutrals

Average Price Target = $39

BofA/Merrill – Neutral – $38 PT

Goldman Sachs – Buy – $42 PT

Oppenheimer – Outperform – $41 PT

JPMorgan – Overweight – $45 PT

Piper Jaffray – Overweight – $41 PT

Wells Fargo – Outperform – $37-$40 Range (let’s call it $38.50)

Credit Suisse – Neutral – $34 PT

Citigroup – Neutral – $35 PT

Morgan Stanley – Overweight – $38

The Morgan Stanley target right at the price they brought it public is hilarious, I can only imagine the machinations behind closed doors that led them to that one.