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NEW YORK (TheStreet) -- Facebook (FB) - Get Meta Platforms Inc. Report stock is up by 0.91% to $114.08 on Monday morning, after EvercoreISI issued a bullish note on the company.

The Menlo Park, CA-based social networking company is poised to benefit from the increasing importance of messaging applications, Evercore said in a note, according to Facebook's wide user-base is attractive to developers, the firm added. 

"With a combined 1.8 billion messaging users between WhatsApp and Messenger alone (not even including Facebook proper or Instagram), Facebook offers developers an audience essentially as large as the entirety of the iOS and Android user base, x-China, with lower usage barriers to the app but with transactional and support capabilities growing increasingly similar," Evercore said, according to Barrons.

Additionally, companies' use of Facebook's messaging applications for customer support services could be a $4 billion revenue opportunity for Messenger and WhatsApp, according to Evercore. 

Evercore raised its price target on the stock to $150 from $140. The firm maintained its "overweight" rating on the stock. 

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Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rates this stock as a "buy" with a ratings score of A-. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.

You can view the full analysis from the report here: FB

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