Meta Platforms price target raised to $210 from $150 at JMP Securities

JMP Securities analyst Andrew Boone raised the firm’s price target on Meta Platforms to $210 from $150 and keeps an Outperform rating on the shares. The analyst is positive on the company’s focus around cost discipline as Meta has declared 2023 as the "year of efficiency". The company also has multiple near-term catalysts in Reels monetization ramping, messaging ads further scaling, and AI improving targeting and measurement, the firm adds, noting that Meta’s growth rates should improve through 2023 while helping to grow profitability and free cash flow.