Business

market movers

Facebook posts biggest gain on S&P 500

Mark Zuckerberg is CEO of Facebook, which went public in May 2012.

David Ramos /Getty Images

Mark Zuckerberg is CEO of Facebook, which went public in May 2012.

Advertisement

Facebook Inc. advanced 4 percent to a record price and posted the S&P 500’s biggest gain.
A Stifel Nicolaus & Co. analyst, Jordan Rohan, raised his price target on the social-networking company to $82 from $72, citing Facebook’s growing share of marketing spending. Rohan has a “buy” rating on the stock and says his firm’s checks suggest “marketers view Facebook as a strategic communications platform, capable of establishing and reinforcing relationships with consumers.”

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com