Meta is Evercore’s ‘highest conviction’ mega-cap
Meta Platforms is identified as Evercore ISI's "highest conviction" mega-cap long, with analysts projecting a 30% upside. The stock is currently priced at .44, reflecting a 0.6% increase today and a 65.96% rise year-to-date. Citi Research anticipates a 40% year-over-year increase in capital expenditures for major datacenters, including Meta. Seeking Alpha rates the stock with a quant score of 3.49, highlighting strong profitability (A+) and momentum (A-), but a low valuation score (D-).
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.
