Why Meta Platforms Stock Crushed the Market Today
A very bullish note from an analyst at a prominent bank was the spark that lit Meta Platforms (NASDAQ: META) on fire Tuesday. More than just a simple price target increase or even a recommendation upgrade, the note shone a very glowing light on the social media giant's business. As a result, the shares zoomed more than 5% higher, on a day when the S&P 500 index closed more or less flat in trading.
That analyst was Justin Post of one of the "big four" U.S. lenders, Bank of America. In a new research note, Post not only reiterated his buy recommendation (at a price of $233 per share) on Meta, he's tagging it as a top "recession stock" among internet titles.
The prognosticator feels that Meta has several fundamental strengths that will help it weather the economic shock many fear is about to befall us.
Source Fool.com
