Shares of Facebook hit an all-time high Friday after a Wall Street firm upgraded the stock and predicted big growth in advertising revenue at the world's dominant online social network. Cowen & Co. analysts John Blackledge and Thomas Champion upgraded Facebook shares to "outperform" and significantly adjusted their price target to $53, up from just $29 previously. Facebook shares, which have already run up some 75 percent in two months, rose 2 percent on Thursday to $47.49. Earlier in the day, they touched $47.60, a new high for the stock, which famously was considered a bust when it
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- 9/20/2013
- by Paul Bond
- The Hollywood Reporter - Movie News
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