JPMorgan Chase & Co. reissued an overweight rating for Facebook shares, according to a research report released Thursday. An overweight rating meant the company was expected to outperform the industry, sector, or market. The company's price objective on the stock rose from US$35 to US$44.

Ratings were also modified for stocks of other information technology firms. JPMorgan upgraded Embraer's shares from an underweight to neutral rating. As a result, the price target on Embraer's stock rose from US$40 to US$43. Another rating upgrade was for Koninklijke Philips Electronic. It now has an overweight rating, from a neutral rating. On the contrary, JPMorgan downgraded its rating for Teekay Offshore Part from overweight to neutral. Teekay Offshore Part now has a price target of US$32 from US$32.50.

It turned out JPMorgan was not the only firm to raise is rating for Facebook's shares. Three other firms did the same, namely Raymond James, Stifel Nicolaus, and RBC Capital. Raymond James increased price target to US$38, according to a research note to investors. Stifel Nicolaus indicated an increase from US$29 to US$38.01 target price. Last but not least, RBC Capital raised price target from $32.00 to $40.00, resulting in an outperform rating on the stock.