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Read more at Counterparties Old vs. Young: America's economic resource battle Soros warns Europe. Again. Sign up for the Counterparties newsletter! Follow Reuters Facebook Twitter RSS YouTube Read Wildfires worsen in Colorado, 32,000 flee homes | 1:52am EDT Judge halts U.S. sales of Samsung Galaxy Tab 2:13am EDT Woman Sues Kid in $500K Little League Lawsuit 26 Jun 2012 Refugee boat sinks; Australian PM aims to revive Malaysia plan 2:13am EDT Democratic campaign chair tells candidates to avoid convention 26 Jun 2012 Discussed 119 House panel to vote on Holder contempt charge: aide 92 California tobacco tax hike narrowly defeated at polls 93 Sandusky lawyers may use NBC tape error in appeal Watched Wildfires rage in Colorado Tue, Jun 26 2012 Teen prostitutes rescued in FBI sweep Tue, Jun 26 2012 Japan's lowers house okays sales tax Mon, Jun 25 2012 Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption Big Ben's new name The Big Ben clock tower will be renamed "Elizabeth Tower" to mark Queen Elizabeth's 60th year on the throne. Slideshow Animal kingdom A selection of our recent pictures from the animal kingdom. Slideshow Wall Street analysts give Facebook cautious nod Tweet Share this Email Print Related Topics Tech » Media » Facebook » Facebook logos on a computer screen are seen in this photo illustration taken in Lavigny May 16, 2012. Credit: Reuters/Valentin Flauraud SAN FRANCISCO | Wed Jun 27, 2012 2:44am EDT SAN FRANCISCO (Reuters) - Wall Street's top financial firms delivered highly-anticipated assessments of social networking phenomenon Facebook Inc on Wednesday, giving a cautious nod of approval about the company a month after its rocky initial public offering. Analysts said they see significant long-term potential for Facebook — the top social networking website — and expect it to corner a substantial share of the global Internet advertising market. But risks remain, given limited visibility over the business model and uncertainty over mobile monetization. Barclays Capital, Stifel Nicolaus and Citi Investment Research & Analysis set a "hold" or equivalent rating on the stock, while Morgan Stanley and RBC Capital Markets began coverage of Facebook with their top ratings. The batch of analyst notes represent Wall Street's most broad-based assessment of the social networking phenomenon, which retained 33 financial firms as underwriters for its high-profile IPO in May. Banks that participated in Facebook's IPO were generally required by securities regulations to wait until 40 days after the offering before publishing their views, limiting the available research about Facebook to date to a handful of analysts not involved in the offering. Analyst Scott Devitt of Morgan Stanley, the lead underwriter of Facebook's $16 billion IPO, set an "overweight" rating and price target of $38 on the stock. Devitt, who told Morgan Stanley's major clients that he cut his revenue estimates on Facebook just days before the IPO, on Wednesday said the company is uniquely positioned to leverage its large and highly-engaged user base to monetize the mobile Internet. However, analysts at Barclays cited concerns over the company's ability to derive any meaningful revenue from its increasing mobile usage. Barclays analysts set a price target of $35, while RBC set a $40 target on the company's stock. Shares of Facebook remain below their $38 offering price, trading as low as $25.52 before regaining ground to trade in the $31 to $33 range in recent days. One of the most highly-anticipated offerings in history, the Facebook IPO was marred by a series of technical glitches by the Nasdaq exchange that caused order fulfillments to be delayed for many investors. Facebook's decision to increase the size of the offering by 25 percent days ahead of the IPO, as well as concerns about Facebook's decelerating revenue, also weighed on the stock, according to some observers. (Reporting By Alexei Oreskovic in San Francisco and Tenzin Pema in Bangalore; Editing by Joyjeet Das) Tech Media Facebook Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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