Billionaire Louis Bacon’s 5 Stock Picks with Huge Upside Potential

2. Meta Platforms, Inc. (NASDAQ:META)

Louis Bacon’s Stake Value: $271.693 million

Average analyst price target: $387.71

Average analyst price target upside: 21.15%

Meta Platforms, Inc. (NASDAQ:META) is a leading tech conglomerate that provides social networking platforms, advertising services, and business insight solutions.

Over the last three months, Meta Platforms, Inc. (NASDAQ:META)’s stock was covered by 38 Wall Street analysts, and 37 maintained a Buy rating on the shares. The average price target of $387.71 represents an upside of 21.15% as of the December 4 market close.

On November 22, Tigress Financial increased the price target on Meta Platforms, Inc. (NASDAQ:META)’s stock to $435 from $380 and maintained a Strong Buy rating. According to the analyst, the company is well positioned because of its strong presence in the digital advertising sphere, continuous innovation, new products, and AI integration.

Artisan Partners commented on Meta Platforms, Inc. (NASDAQ:META) in its third quarter 2023 investor letter. Here is what it said:

“Meta Platforms, Inc. (NASDAQ:META) added to its string of gains in Q3. The share price is up about 150% this year. Second quarter results were very good: revenue growth is back to double digits, user metrics are solid and show very good engagement, daily active users grew 7%, and importantly, Facebook app users continue to grow across all geographies. Instagram is growing more strongly, but solid growth in the legacy Facebook business is a positive indicator. Importantly, the company has controlled expenses tightly. Headcount was down 14% year over year. Adjusted EBIT grew 44%, and the margin recovered strongly to 38%, from 29% last year.”