Meta Platforms (NASDAQ:META) is one of the best communication services stocks according to Hedge Funds.
Scott Devitt from Wedbush reiterated his bullish stance on Meta Platforms Inc. (NASDAQ:META). He assigned a Buy rating on December 19, with a downward revision of the price target from $920 to $880. This still leaves 36% upside potential in the stock.
Devitt highlighted some encouraging fundamental factors for Meta Platforms Inc. (NASDAQ:META) to back his stance. These include monetizing new channels, adapting to Advantage+, expected cost controls, and digital ad trends. Amalgamation of these factors has made the stock Wedbush’s top pick within the Advertising space for 2026.
On December 15, Citizens also reaffirmed its outperform rating on Meta Platforms Inc. (NASDAQ:META). They gave a Buy call with a target price of $900, yielding an impressive 39% upside. The firm based its rating on planned updates for 2026 that would generate higher engagement, app usage time, and impressions. These factors are critical for advertisements, which are the primary source of revenue.
Meta Platforms (NASDAQ:META) operates various communication and social media platforms that connect users all around the globe. Its business operates through two segments. First is called Family of Apps (FoA) that runs Facebook, WhatsApp, Threads, Instagram, and Messenger. The second one is the futuristic Reality Labs (RL) that includes metaverse and VR/AR hardware.
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Disclosure: None. This article is originally published at Insider Monkey.
