Meta Stock Surge Adds $60 Billion After Threads Launch—And One Analyst Predicts Potential $1 Trillion Valuation
$Meta Platforms (META.US)$ Shares of the Facebook and Instagram parent rose as much as 2% to above $316 on Thursday, hitting their highest level since last February.
Meta stock is up 7% since launching Threads last Wednesday, adding some $63 billion in market value.
Sparking Thursday’s rally, Cowen analysts upgraded their rating for the stock from a hold to a buy, upping Meta's price target by nearly 60% from $220 to $345.
Meta stock is up 7% since launching Threads last Wednesday, adding some $63 billion in market value.
Sparking Thursday’s rally, Cowen analysts upgraded their rating for the stock from a hold to a buy, upping Meta's price target by nearly 60% from $220 to $345.
In addition to lauding cost-cutting measures across the company and pointing to positive ad spending prospects across Meta’s platforms, Cowen’s John Blackledge forecasted Meta should pull in $5 billion in revenue from Threads next year in a base-case scenario.
Cowen is one of nine firms to upgrade its price target for Meta after it debuted Threads, according to FactSet data; among those more bullish on the company is Global Equities Research, which set a $400 price target for Meta last week.
A $400 share price would be the highest in Meta’s history and send its market capitalization from about $800 billion to just over $1 trillion, making it one of just seven trillion-dollar companies in the world.
Cowen is one of nine firms to upgrade its price target for Meta after it debuted Threads, according to FactSet data; among those more bullish on the company is Global Equities Research, which set a $400 price target for Meta last week.
A $400 share price would be the highest in Meta’s history and send its market capitalization from about $800 billion to just over $1 trillion, making it one of just seven trillion-dollar companies in the world.
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