Wall Street points to the strengths of Meta Platforms

Analysts at Bank of America positively assess the future of the social network Meta Platforms Inc. (META) and call its shares one of the best “crisis stocks” among similar enterprises. They received a positive recommendation from an authoritative source supporting the growth of Meta Platforms quotes. At the auction on July 7, the stock was worth $172.19.

Bank of America analysts this week raised the target price for Meta Platforms shares to $233. Moreover, experts generally spoke positively about the company’s business and pointed out several strengths of the social network that will help it better cope with the current economic situation. Its shares in Bank of America have also been named the best “crisis stocks” among Internet companies. According to the bank’s specialists, Meta Platforms has several fundamental strengths that will help it withstand the economic shock of the coming months.

Firstly, it’s essential to consider the company’s high profit and stable cash flow. A solid cash reserve and an expanded structure will allow the social network to show more flexibility in managing expenses. Bank of America suggests that Meta Platforms can use cash to buy back its shares.

Since the beginning of this year, the quotes of Meta Platforms have fallen by almost 50% due to investor concerns general economic situation. In particular, shareholders were concerned about slowing revenue growth, and shrinking user base recommendation from Bank of America led to an increase in the value of shares by more than 5% this week.