Following Wednesday’s release of a dozen Wall Street analyst reports on Facebook , “ Mad Money ” host Jim Cramer had one word how he felt about the social media stock: “Underwhelmed.”
With analysts’ average target price of $38 per share — the same level at from its much ballyhooed initial public offering — Cramer said that surprisingly strong numbers from Facebook would give the stock an immediate boost.
“But as far as I’m concerned, right now when I look at Facebook, I just see an expensive stock without any catalysts to move it dramatically higher,” he said. “In other words, I see it just like the analysts, hard to love and maybe even, sub rosa, hard to like.”
First, Cramer looked at Morgan Stanley’s overweight rating, which he called “so lukewarm you might be tempted to sell the darned thing off this piece of research.”
(Related Story: Why You Should Own Facebook Now: Gene Munster )
Aside from the usual risk factors, analyst Scott Devitt raised the possibility of disappointing mobile ad performance.
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