Meta is a 'top recession stock' for 2023, analysts say, after shares tanked 65% this year

Meta's decline is the largest among mega-cap stocks, with many analysts believing shares in the company have fallen too far.

Wall Street analysts are bullish on Meta Platforms for 2023 after shares in the company nosedived by more than 65% this year. The decline is the largest among mega-cap stocks, with many analysts saying shares in the company have fallen too far. The stock dropped by 24% in a single day after its most recent results.

history, and while revenue estimate cuts for advertising stocks are very likely in a recession scenario, we would anticipate accelerating cost-cutting activity in 2023 to result in smaller [earnings per share] cuts vs. peers," the analysts said on Dec. 15 in a note to clients. Goldman Sachs Cost-cutting isn't the sole factor behind the bullishness on Meta.

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