Wall Street Bullish on Meta Platforms (META) Here’s Why

Meta Platforms, Inc. (NASDAQ:META) is one of the Good Stocks to Buy According to Analysts. Wall Street is bullish on Meta Platforms, Inc. (NASDAQ:META) on December 4, Rocco Strauss from Arete Research upgraded the stock from Hold to Buy with a $718 price target.

​Earlier on December 2, Brad Erickson from RBC Capital also reiterated a Buy rating on the stock with a price target of $810. Overall, analysts’ 12-month price target suggests 32.6% upside from the current level.

​In other news, Reuters reported today that the European Union in Brussels opened a new antitrust investigation on Meta Platforms, Inc. (NASDAQ:META) over its AI features in WhatsApp. This investigation comes as the latest move by the European regulators to ensure balanced support for the sector and curb the expanding influence of the Big Tech companies. Earlier in July, Italy’s antitrust watchdog had also opened a similar investigation to check whether Meta Platforms, Inc. (NASDAQ:META) is abusing its dominance by blocking competitor AI chatbots from its messaging platform.

​While the spokesperson from WhatsApp has called the allegations “baseless,” Financial Times cited EU officials, who said they will conduct the investigation under traditional antitrust rules.

​​​Meta Platforms, Inc. (NASDAQ:META) is a tech company that connects people through social media and immersive experiences.

While we acknowledge the potential of META to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than META and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.