UBS Is Bullish On Facebook, Sees 37% Upside

December 2, 2021 11:57 AM | 1 min read | Make a Comment

UBS analyst Lloyd Walmsley assumed Meta Platforms Inc FB coverage with a Buy rating with a price target of $425, up from $416, implying a 36.8% upside.
The company will likely benefit from the better operating performance and multiple expansion following the reset of Q3 results.
Ad checks tell us budget cuts specific to ATT/ privacy headwinds were swift, and as ad tech improvements hit, budgets will likely return quickly, Walmsley adds. He states that he sees additional upside potentially coming from Reels, Watch, and eCommerce functionality.
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Price Action: FB shares traded lower by 0.58% at $308.79 on the last check Thursday.