Facebook shares will trade at $38

Morgan Stanley : Investment Bank
“When Facebook launched its IPO last summer, it was one of the most anticipated events in the Internet history. Shares were priced at $38. but finished the first day trading barely above its initial public offering price, at $38.23. However, since then, shares have failed to return to that lofty valuation. On Monday, they closed down about 30pc below the IPO price.”