RBC Capital analyst Brad Erickson raised the firm’s price target on Meta Platforms to $225 from $160 and keeps an Outperform rating on the shares after its Q4 results and guidance. The company’s ad trend commentary was "in-line/slightly improved" on sequential basis, and advertisers are seeing material conversion improvement, which is consistent with the firm’s checks coming in, the analyst tells investors in a research note. RBC Capital also reiterates its view that Meta is its favorite large-cap idea in 2023, with conversion improvements serving as a "key source of upside".
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on META:
- Analysts Praise META Results – Stock is Up 20%
- Meta Platforms price target raised to $220 from $170 at Canaccord
- Meta Platforms price target raised to $210 from $150 at JMP Securities
- Meta Platforms price target raised to $250 from $165 at Wells Fargo
- Meta Platforms price target raised to $215 from $160 at Truist