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On Wednesday, the Street was finally able to initiate coverage on Facebook, 40 days after the IPO.And it seems widely followed Piper Jaffray analyst Gene Munster may have found a new object of affection. During a live interview on CNBC’s Fast Money Halftime Report he sounded almost as enthusiastic about Facebook as he's been about Apple (and if you follow tech at all, you know how much Munster loves Apple .)
Although Munster concedes that in the near-term Facebook may be facing headwinds, he tells us that “Given what they’re doing, to even think about the next 6 months is missing the whole point,” he says.
Ahead of the broadcast Munster told us there are a few big reasons investors should own Facebook. They are:- Trades significantly below company’s long term EBITDA- Extremely unique property online
But aside for the reasons mentioned above - Munster believes there's another upside catalyst and it's a doozy. In fact, it's the same catalyst famed venture capitalist Roger McNamee told us back on May 18th, the day of the IPO. Facebook is about to change the way we shop.
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In case you’re curious here’s how the Street rates Facebook:
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