FB: Facebook, Monster higher following FBR coverage launches

Facebook, Monster higher following FBR coverage launches • 10:17 AM

• As part of an Internet sector coverage launch, FBR's William Bird has assigned Outperform ratings to Facebook (FB +1.4%) and Monster (MWW +2%), while respectively giving the companies PTs of $60 and $7.
• Taking a big-picture view of things, Bird calls Facebook "an investment in a large-scale data-rich platform run by a group of highly innovative people who are likely to continually develop more ideas for improving engagement and monetizing it."
• Bird adds that while "no one really knows how big Facebook can be," he thinks it has "significant greenfield opportunity in front of it," and that its ad pricing is "inflecting."
• Monster, meanwhile, is called a play on job recovery, strategic initiatives, and buybacks. Bird argues Monster's low valuation (caused in large part by share losses to LinkedIn) minimize risk, and notes buybacks have already lowered the jobs site's share count by 11% this year. He thinks a 60% share count reduction is possible over the next three years.
• Monster flew higher earlier this month after providing mixed Q3 results and above-consensus Q4 EPS guidance, and announcing the sale of a 49.9% stake in Korean site JobKorea.

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