UPDATE: FBR Capital Markets Initiates Coverage on Facebook as Stock is Hitting its Stride

In a report published Thursday, FBR Capital Markets analyst William Bird initiated coverage on Facebook (NASDAQ: FB ) with an Outperform rating and $60.00 price target. In the report, FBR Capital Markets noted, “We are initiating coverage of Facebook, Inc. (FB) with an Outperform rating and a 12-month price target