(CercleFinance.com) – Meta progressed on the stock market on Wednesday, Wedbush having raised its price target on the stock, which it says it considers one of its best investment ideas in the Internet for 2024.
Shortly before 10:00 a.m. (New York time), the stock rose 0.8% while the S&P 500 index advanced 0.1% at the same time.
In a vast study devoted to Internet stocks, Wedbush Securities explains that platforms exposed to general consumer consumption should remain well positioned next year.
Its best ideas in the field are Amazon (e-commerce), Meta (digital advertising), Booking (online travel reservations) and Uber (mobility services).
For Wedbush, Meta should benefit – like Amazon and Google – from the emergence of new services in generative artificial intelligence that can be monetized and extended.
In this context, the broker raises its price target on the stock from 350 to 420 dollars while renewing its ‘outperform’ opinion on the social media giant.
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