Meta Platforms price target raised to $215 from $160 at Truist

Truist analyst Youssef Squali raised the firm’s price target on Meta Platforms to $215 from $160 and keeps a Buy rating on the shares. The company’s Q4 results and Q1 guidance was "big relief" for the digital ad market, highlighting that demand has not fallen off a cliff amid macro headwinds, the analyst tells investors in a research note. Meta management’s pivot to focusing on operating/cost efficiencies is also a welcome development in an environment where growth has materially slowed, the firm adds.