Meta Platforms price target raised to $210 from $170 at Mizuho

Mizuho analyst James Lee raised the firm’s price target on Meta Platforms to $210 from $170 and keeps a Buy rating on the shares. The company’s Q4 revenue results and Q1 guidance came in on-track with expectations, but positive surprise was the level of reduction in spending guidance, demonstrating Meta’s significant commitment to being disciplined going forward, the analyst tells investors in a research note. With limited revenue downside, more room for cost efficiency, and increasing scrutiny of TikTok, the firm continues to like the fiscal 2023 setup for Meta shares.