Analysts predict continued stock growth for Meta with bright revenue outlook.
Loop Capital analyst Rob Sanderson upgraded Meta Platforms Inc.'s stock to buy from hold, despite its near doubling so far in 2023, citing the potential for revenue momentum to drive further growth. Sanderson believes that three significant headwinds to revenue are cycling through and set to become tailwinds, and that Meta's product story is as good as it's been in some time, with several compelling avenues. He is particularly bullish on the revenue opportunities stemming from Meta's Reels content format that competes against TikTok, which he expects will become another big flywheel for Meta and help to open large revenue opportunities in social commerce.