Meta Platforms has had a rough March, but the social media giant is a solid buy at these levels, according to Chris Grisanti, chief market strategist at MAI Capital Management. The strategist went on CNBC's " Power Lunch " on Tuesday to give his takes on some of the market's biggest movers of the day. Here is what he had to say during "Three-Stock Lunch." Meta Platforms The Facebook parent has suffered alongside most of its "Magnificent Seven" peers in recent weeks, as Meta shares are down more than 6% in March. However, the social media stock is starting to look attractive, Grisanti said. This week, it has shown some signs of life, up 5%. It remains 15% off its recent peak, and is up nearly 7% from the start of the year. META 1D mountain Meta Platforms "It's still trading at a market multiple. It's going to grow earnings double digits for the next three to four years," Grisanti said. "The rub on it, of course, is huge AI spend. But the good news about that is, one, it's in the stock. But the second news is, if that's not panning out, you can dial it back pretty easily." "I like it a lot," he added. KB Home KB Home is in a tough position, Grisanti said. The strategist, who has liked homebuilders in the past, said he does not prefer them in an environment where interest rates might go lower because of a weakening economy. KBH 1D mountain KB Home "It's funny because interest rates are probably going lower. You think, 'Well, that's a perfect thing for the homebuilders.' But I think they're going to go lower for the wrong reason, which is the economy is slowing. And it's hard to pick up a more cyclical industry than the homebuilding," Grisanti said. "So, you think, 'Wow, it's down a lot.' 'Wow, earnings are coming off,'" he added. "But in this cycle, those things can go a lot further." McCormick The strategist said he is on hold when it comes to the consumer staple stock, which may not be as attractive now that it is near all-time highs. McCormick shares have outperformed this year, as last year's high-flying tech stocks have simultaneously sold off. It is up more than 5% this year. It is off its recent peak by about 7%. "McCormick held its own. That's what it was supposed to do. But now things like Meta, I think, which have dropped 20% or 30%, are more interesting than McCormick, which was trading near its highs, and has OK earnings, but not great," Grisanti said. MKC 1D mountain McCormick Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today's dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You'll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
