Just thought to let you know that the great BofA/Merrill lowered its valuation of Facebook (FB) to $23/sh. This has been our valuation of the Company since the beginning. In addition, BMO Capital Markets lowered its price target on FB to $15/sh from $25/sh. FB is down nearly 4% while the entire market is flying high due to the upcoming Bernanke speech at 10am ET.
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