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Wednesday, June 19, 2013 4:10:27 PM EDT

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FB	$24.28	+0.28%

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Nomura starts Facebook at buy, $40 price target

6/21/12 4:43 PM ET (MarketWatch)

SAN FRANCISCO (MarketWatch) - Nomura Equity Research on Thursday initiated coverage of Facebook Inc. with a buy rating and a $40 price target. Analyst Brian Nowak wrote that the social media giant's "industry-leading reach, engaged user base, and comprehensive user dataset will enable the company to continue to grow and take share in the display market. Uncertainties exist around FB's ability to improve monetization." Shares of Facebook were up a fraction in after-hours trading.