Meta is Evercore’s ‘highest conviction’ mega-cap
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Meta Platforms is the “highest conviction” mega-cap long, according to Evercore ISI analysts.
Rich Ross, head of technical analysis and an integral member of the Macro Research team at Evercore, gave the stock a 30% upside to $750.
The stock is currently $587.44, up about 0.6% today, and up 65.96% year-to-date.
Earlier this week, Citi Research analysts said they expect datacenters – such as Meta (NASDAQ:META), Amazon (AMZN), Alphabet (GOOGL), (GOOG), and Microsoft (MSFT) – to increase their capital expenditures by 40% year-over-year.
Seeking Alpha gives the stock a quant rating of 3.49, with a profitability score of A+, A- for momentum, but D- for valuation.
