Scotiabank initiated coverage of Meta Platforms (META) with a Sector Perform rating and $585 price target The firm does not have a high level of confidence that consumers will use Meta’s services more in the future as it does for both Amazon.com (AMZN) and Alphabet (GOOGL). Meta shares have been supported by cost cutting and an acceleration in growth, but accelerations in one year lead to tough comparables in the following year, and cost cutting “can’t on forever,” the analyst tells investors in a research note.
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