Facebook and Instagram parent company Meta Platforms (META) is cozying up to conservatives with Joel Kaplan taking over as its new chief of global affairs officer. Kaplan has a long history of helping Meta Platforms in its attempt to woo Republicans. He’s been with the company since 2011 and was an aide to former President George W. Bush before that.
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Kaplan is taking over the position from Nick Clegg, the former deputy Prime Minister of the UK. Clegg took this position in 2022, allowing him to act as a connection between the company and liberals. Before that, he was head of the UK’s Liberal Democratic Party.
What This Means for Meta Platforms
Kaplan’s promotion at Meta Platforms makes sense as the company shifts focus to better court conservatives. That includes meetings with incoming President Donald Trump to prepare for the administration change. CEO Mark Zuckerberg also congratulated Trump on his election victory and later had Meta Platforms donate $1 million to his inaugural fund.
Zuckerberg has shifted his politics recently, leaving behind the Democrats to identify as a Libertarian. That allows him to take a more nuanced stance on politics, which is helpful when dealing with changes in power in the U.S. government. This time, he’s working with conservatives after their massive election win last year, taking the House, Senate, and Presidency. This might benefit META during Trump’s four years in office while allowing Zuckerberg to easily shift his stance if Democrats win the next presidential election.
Is META Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus for Meta Platforms is Strong Buy based on 38 Buy, three Hold, and one Sell ratings over the last three months. With that comes an average price target of $678.29, a high of $811, and a low of $530. This represents a potential 13.19% upside for META shares.
