A reassuring analyst note helped support Meta Platforms' (NASDAQ: META) share-price gain on Wednesday. After the note was published, the social media bellwether was trading nearly 3% higher by midafternoon. That was more than double the increase of the S 500 index at that point.

The prognosticator behind the note was Justin Post at Bank of America. In reiterating his buy recommendation on Meta Platforms at a price target of $375, he said that the company's shares had "slightly underperformed" both the stock market and peer stocks.

In Post's view, this was due to a set of factors, including potentially higher-than-expected costs, possible regulatory issues, and losses in the company's underperforming metaverse efforts. He also cited the declining take-up of Threads, Meta Platforms' answer to Twitter, as a current worry.

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Source Fool.com