Bank of America Securities analyst Justin Post maintained a Buy rating on Meta Platforms (META – Research Report) today and set a price target of $640.00.
Justin Post has given his Buy rating due to a combination of factors surrounding the ongoing FTC antitrust case against Meta Platforms. Despite the trial’s potential risks, including the possibility of Meta being required to divest key assets like Instagram and WhatsApp, Post remains optimistic about Meta’s future. He acknowledges that while the FTC’s case presents some tail risk, the likelihood of a final resolution is distant, with potential appeals extending the timeline until 2027.
Post’s confidence in Meta is bolstered by the belief that the company’s multi-app structure will likely remain intact, which supports its long-term growth prospects. Furthermore, the market does not seem to be pricing in severe behavioral or structural remedies, which could mean that the current stock price does not fully reflect the potential positive outcomes of the trial. Overall, the combination of these factors underpins his Buy rating, with a price objective of $640, suggesting significant upside from the current price.
In another report released on April 11, JMP Securities also reiterated a Buy rating on the stock with a $750.00 price target.