Piper says the Oculus Rift unit should boost Facebook’s valuation, and gives the stock a price target of $155.
As you may have heard, Facebook’s (FB) Oculus unit yesterday announced that it will start taking pre-orders for its “Rift” virtual reality headset tomorrow morning, Wednesday, January 6th, at 8 am Pacific time, although the company still hasn’t said how much it thinks the thing will cost or when those who order will get its hands on the thing, instead saying they’ll reveal all tomorrow.
Piper Jaffray’s Gene Munster late yesterday offered up his own view of the importance to Facebook, writing that “the availability of Oculus Rift should mark a turning point in investor optimism on the VR theme, notable that VR is the start of a new computing paradigm.”
Munster, who has an Overweight rating on the stock, and a $155 price target, thinks the Rift will become available March 16th, and that it will costs $450: READ MORE