Facebook (FB) stock hit a fresh high Tuesday, riding momentum from a price target hike and a positive research report on Monday. Ampere Analysis said Facebook is poised to become a “plausible alternative” toGoogle’s (GOOGL) YouTube. Based on the revenue potential of the social network’s Oculus Rift virtual reality gear, Piper Jaffray raised its price target on Facebook to 120 from 92 and kept its overweight rating. The new target is about a 42%
Chinese Internet search leader Baidu (BIDU) is again tapping the U.S. bond market, according to a filing Tuesday with the Securities and Exchange Commission. The offering’s size was not given in the SEC filing. Baidu said it “intends to use the net proceeds from the offering for general corporate purposes.” Goldman Sachs (Asia) and JPMorgan Securities will handle the bond offering, which comes after Baidu sold a $1 billion, five-year bond offering
Shares of generic drug maker Perrigo (PRGO) rose as much as 3.1% Tuesday after BMO Capital Markets launched coverage with an outperform rating, saying Perrigo stock is undervalued regardless of whether Mylan (MYL) succeeds in acquiring the company. Analyst David Maris wrote that trends favor Perrigo’s business model, which is divided between private-label over-the-counter and prescription generic drugs. “The continued movement of consumers from