Stock Idea Facebook: Now called Meta —————————————————— | FSMOne SG - Research Highlights

Stock Idea

Facebook: Now called Meta

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• Meta has had multiple backlashes with the most recent whistleblowing incident by Frances Haugen. We think that earnings will not be impacted and view this heightened scrutiny positively as it pushes the company to take steps towards creating a safer internet space.

• Apple’s privacy policy changes and the supply chain bottlenecks have posed as headwinds to Meta Platforms (NASDAQ: FB), which we expect to be temporary bumps as Meta maintains its strong moat in digital advertising.

• The metaverse vision is big, but if Meta can pull it off, it will be a huge growth driver. We like that the company continues to be a visionary tech company with plans to break boundaries in innovation.

• Applying a fair PE of 23X on 2023 earnings per share, we arrive at a target price of USD 410, giving investors an attractive upside potential of 25% at the closing price of USD 328 as of 10 January 2022.

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: Meta Platforms (NASDAQ: FB)