Mizuho predicts this is the next $1 trillion stock
Meta Platforms (NASDAQ:META) saw a 1.1% surge in premarket trading on Monday following an upgrade from Loop Capital, moving the stock's recommendation from hold to buy, citing the company’s increasingly positive revenue picture.
The analysts noted that while cost cuts contribute as a one-time driver, revenue growth acceleration is expected to fuel multiple expansion for the social media giant.
Meta's product lineup is "as good as it's been in some time," the analysts said, adding that they are becoming "more bullish on the impact of Reels."
Loop Capital set a price target of $320 for Meta Platforms, implying a 37% increase from its last close.
Year-to-date, Meta Platforms' stock has risen 94%, making it the top-performing stock in both the S&P 500 and Nasdaq 100 indexes.
--This article was written with assistance from AI
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