Meta assumed with a Buy with a price target of $425 (up from $416) at UBS

UBS analyst Lloyd Walmsley assumed coverage of Meta with a Buy rating with a price target of $425, up from $416. The company is positioned to benefit from better operating performance and multiple expansion following the reset of Q3 results, the analyst tells investors in a research note. Ad checks tell us budget cuts specific to ATT/ privacy headwinds were swift, and as ad tech improvements hit, budgets are expected to return quickly, Walmsley adds, stating that he sees additional upside potentially coming from Reels, Watch and eCommerce functionality.

$425 is about right for one year price target. If you draw a long term trend line to chart for FB, that is where FB stock price will land in a year. Fundamentally, FB should really be a lot higher than $425 though. FB is at least 100% undervalued.$Meta Platforms, Inc.(FB)$