- Stifel analyst Mark Kelley resumed coverage of Meta Platforms Inc FB with a Buy rating and $400 price target.
- The price target implies an upside of 32.6%.
- The analyst is optimistic on the stock, particularly Reels and Commerce, despite the constant "drumbeat" of critical press, Kelley tells investors in a research note.
- He thinks the increased transparency around Facebook Reality Labs is a positive but also doesn't think the initial goal of reaching 1 billion metaverse users is a stretch.
- Price Action: FB shares traded higher by 0.07% at $313.49 in the premarket session on the last check Tuesday.
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