Canaccord Starts Facebook With a Buy and 2 Other Hot Stocks to Watch

Facebook Inc. (NASDAQ:FB): Current price $49.00

Late Tuesday, Canaccord Genuity began its coverage of Facebook with a Buy, starting the site’s price target at $60. Analysts Michael Graham and Maria Ripps pointed to the firm’s promising mobile advertising endeavors, together with the potential for further worldwide growth in its user base. The analysts also cited coming efforts to monetize Instagram, which Facebook owns. Shares are once again pushing for $50 on Wednesday.