Meta Platforms price target raised to $180 from $145 at Credit Suisse

Credit Suisse analyst Stephen Ju raised the price target on Meta Platforms to $180 from $145 and keeps an Outperform rating on the shares ahead of quarterly results. Automation/AI-driven ROI improvements to be found in product innovations such as Advantage+, and the ramp in marketer traction from Q3 to Q4 2022 form the building blocks of what the firm expects to be gradual improvements to Meta’s revenue dollar growth. Shifting focus to its updated conversations with advertisers, whereas prior checks indicated 5%-7% growth to total online/digital advertising spend for 2023, the latest data points suggest that the higher end of that range is no longer valid while the lower end drops to flat year-over-year, Credit Suisse says.