adminOne 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
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