One
of
Wall
Street’s
biggest
bulls
on
Meta
Platforms
thinks
its
business
could
easily
grow
during
a
Trump
presidency.
Jefferies’
Brent
Thill
sees
Facebook
as
vital
—
despite
President
Donald
Trump
calling
it
an
“enemy
of
the
people”
on
CNBC’s
“Squawk
Box
”
on
Monday.
“I
don’t
agree
with
this
view
that
it’s
the
enemy.
The
reverse
has
happened
for
small
businesses,”
the
firm’s
tech
sector
lead
told
CNBC’s
”
Fast
Money
.”
“The
reality
is
the
economic
value
to
all
these
small
businesses’
advertising
is
off
the
charts.”
But
President
Trump’s
comments
seemed
to
spark
profit-taking
today.
Facebook’s
parent
Meta
had
its
worst
daily
performance
in
nearly
a
year.
The
stock
fell
more
than
4%
to
$483.59
a
share.
“Is
there
a
headline
risk
and
a
political
risk?
Absolutely.
But
ultimately,
I
think,
the
value
created
is
so
great
for
these
small
businesses,
it’s
hard
to
turn
down
the
facts,”
said
Thill.
“This
isn’t
fundamental
risk.”
Thill
is
particularly
bullish
on
Facebook’s
advertising
business.
“All
of
the
advertisers
we
have
spoke
to
in
the
last
six
months
have
seen
incremental
budgets
go
from
Google
to
Meta
because
of
the
quality
of
the
product
and
the
quality
of
the
targeting
and
the
quality
of
the
return,”
said
Thill.
“We
think
this
year
they
can
pick
up
40
to
50%
of
the
incremental
ad
spend.”
‘I’d
be
buying
this
stock
on
this
weakness’
Even
with
the
rough
trading
day,
Meta
is
up
about
37%
just
this
year.
“I’d
be
buying
this
stock
on
this
weakness,”
Thill
said.
“Meta
right
now
is
one
of
the
lowest
multiple
names
in
our
coverage
universe…
It’s
one
of
the
cheapest
names
that’s
out
there.”
He
has
a
buy
rating
and
a
$550
a
share
12-month
price
target
on
Meta.
It
implies
a
roughly
14%
gain
from
Monday’s
close.
Disclosures:
None
Disclaimer
