Investing Club: stock, down 64% this year, could be set for a rebound in 2023
And we agree that Meta's stock, one of the worst performers in the S & P 500 this year, could be poised to make a comeback — but only if management takes greater steps to rein in spending. Analysts at JPMorgan lifted the bank's designation on Meta's stock to overweight, or buy, from neutral, while raising their price target to $150 a share from $115. The revisions come with Meta's stock down more than 64% year-to-date.
Meta CEO Mark Zuckerberg demonstrates an Oculus Rift virtual reality headset and Oculus Touch controllers during the Oculus Connect 3 event in San Jose, California, U.S., on Thursday, Oct. 6, 2016.
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