What happened

A very bullish note from an analyst at a prominent bank was the spark that lit Meta Platforms (META -0.62%) on fire Tuesday. More than just a simple price target increase or even a recommendation upgrade, the note shone a very glowing light on the social media giant's business. As a result, the shares zoomed more than 5% higher, on a day when the S&P 500 index closed more or less flat in trading.

So what

That analyst was Justin Post of one of the "big four" U.S. lenders, Bank of America. In a new research note, Post not only reiterated his buy recommendation (at a price of $233 per share) on Meta, he's tagging it as a top "recession stock" among internet titles.

The prognosticator feels that Meta has several fundamental strengths that will help it weather the economic shock many fear is about to befall us.

Post writes that the company's consistently high profit margins should alleviate worries about cash flow, and it has notably more flexibility on costs and expenses than others in its grouping. Another plus is that with a big cash pile, it can buy back its own shares "to take advantage of stock dislocations." 

Now what

Post's new note provided a nice lift to Meta shares, which have taken significant hits of late on a raft of concerns. Investors are worried that revenue growth is slowing and the user base is getting eroded. That said, the analyst's new take points out the numerous areas of strength Meta can leverage to get the high-growth engine humming again. Perhaps this can inspire a new bull run for the bellwether social media stock