MGT Discusses Subpeona, UPS Bringing 3D Printing to Singapore, Plus Bullish Calls On Facebook, Enterprise Products, and Lockheed

Count Citi’s Mark May as one of Facebook Inc (NASDAQ:FB)‘s uber-bulls on Wall Street. The analyst recently upped his price target on the social media company to $158 per share from $148, commenting that, “it feels like it is still early days for the company” as Facebook continues to make progress monetizing its billion-plus user base. Mr. May thinks the consensus on Wall Street could potentially prove conservative and that Facebook’s valuation multiple could increase as investors become more confident on the company’s future. Facebook was the second-most widely held stock by the smart money in our system at the end of the second quarter, with 148 funds long the social media giant.

Now that it isn’t interested in merging with Williams Companies Inc (NYSE:WMB) (at least at the present moment), Enterprise Products Partners L.P. (NYSE:EPD) has won some more fans among the analyst community. John Edwards of Credit Suisse is one of the latest converts, as he raised his rating on the energy mover to ‘Outperform’ from ‘Neutral’ and retained his $34 per share price target on it, citing the attractive risk/reward prospects at its current price, as well as Enterprise Products’ solid management team and the stock’s juicy annual dividend yield of 6.05%. Hedge fund sentiment towards Enterprise Products Partners L.P. (NYSE:EPD) was relatively stable in the second quarter, with 28 funds that we track owning shares of it at the end of June, up by one fund quarter-over-quarter.

Investors are buzzing about United Parcel Service, Inc. (NYSE:UPS) after the logistics company announced that it will bring its 3D printing service to Singapore by the end of 2016 with the help of its partner, Fast Radius. UPS already offers a similar service in parts of the United States, where customers can have requested parts printed at a Fast Radius factory or at the 60 UPS stores equipped with 3D printers, in addition to UPS delivering them on demand. UPS is expanding its 3D printing business because its management thinks that 3D printing could eventually threaten its warehousing business and UPS wants to be the one that disrupts itself, in a sense, not have others do so. 33 funds in our database owned $1.45 billion worth of United Parcel Service, Inc. (NYSE:UPS) shares on June 30, which accounted for 1.50% of the float.

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