Facebook Shares Hitting New Lows Following Critical Report

DAVID LIEBERMAN, Executive Editor, Deadline.com
Tue, 07/31/2012 - 8:44am

The stock is down more than 5% to less than $22 at mid-day after Bernstein Research’s influential analyst Carlos Kirjner lowered his target price to $23 from $25 — and upgraded Facebook to “market perform” from “underperform.” The stock, which went public in May at $38, has already set a new intra-day low of $21.82.

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Facebook Shares Hitting New Lows Following Critical Report

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