Loop Capital analyst Rob Sanderson raised the firm’s price target on Meta Platforms to $220 from $188 but keeps a Hold rating on the shares. The analyst is updating the firm’s model for the stock to reflect the company’s recently announced additional cost cuts. Loop Capital added however that while the Chinese divestment or potential banning of TikTok, which has bipartisan support in Washington currently, could make Meta shares a winner, it is too early to model share win backs from TikTok.
Published first on TheFly
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