Here's Why Stifel Is Bullish On Meta

• Stifel analyst Mark Kelley resumed coverage of Meta Platforms Inc (NASDAQ:FB) with a Buy rating and $400 price target. 
• The price target implies an upside of 32.6%.
• The analyst is optimistic on the stock, particularly Reels and Commerce, despite the constant "drumbeat" of critical press, Kelley tells investors in a research note. 
• He thinks the increased transparency around Facebook Reality Labs is a positive but also doesn't think the initial goal of reaching 1 billion metaverse users is a stretch.
• Price Action: FB shares traded higher by 0.07% at $313.49 in the premarket session on the last check Tuesday.