Facebook shares probably too high: Barron's

Shares of Facebook, which were given a boost last week when the social networking company reported first quarter results that largely met analysts’ expectations, may be over valued, financial newspaper Barron’s said.

Facebook closed at US$28.31 on Friday, 60 per cent higher than last summer’s low-point, but well below its initial public offering price of US$38 last May. However, the company is probably worth no more than US$25 a share, Barron’s said, reiterating a stance it took in February.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1231316/facebook-shares-probably-too-high-barrons