Good morning. Here’s your daily equity research roundup from the Street.
Facebook (FB): Morgan Stanley analyst Nishant Verma is initiating coverage of FB, writing, “We initiate coverage of Facebook with a $38 12-month price target, offering investors 15% upside potential. We believe that Facebook is uniquely positioned to leverage its large and highly-engaged user base to monetise the mobile Internet.”
Nordstrom (JWN): Citi analyst Deborah Weinswig is downgrading JWN to Neutral from Buy and lowering her price target on the stock to $52 from $63, citing concern “about the health of the high-end consumer” and saying she expects same-store sales growth to slow in the second half of the year in a difficult macro environment.
Dollar General (DG): Deutsche Bank analyst Charles Grom is raising his price target on DG to $61 from $53 after the company presented at their 2012 Investor Day and explained how it will “continue to gain substantial market share in ’12 & beyond.” Grom says the company has shown impressive sales gains with new concepts like DG Market and DG Plus and that the store is also finding ways to increase the basket size of customers.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.