Evercore ISI said the WhatsApp’s monetization initiative should be able to conservatively generate a $10B+ advertising run-rate for Meta Platforms (META) by FY28. The firm added that Meta has a proven track record of building new surfaces, monetizing them successfully and ramping up profitability accordingly. Evercore ISI’s strong guess is that WhatsApp Updates will add to its track record, the firm told investors in a research note. Evercore ISI reiterated an Outperform rating and $750 price target on Meta Platforms shares.
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