Jefferies analyst Brent Thill raised the firm’s price target on Meta Platforms to $225 from $175 and keeps a Buy rating on the shares, arguing that the company’s Q4 results "should fuel the bull case" given that the 5% reduction in the low end of the FY23 total expense guidance "suggests significant EPS upside." Meta’s comps become increasingly easy, giving the firm conviction that revenue growth and profitability will improve throughout the year and prompting Jefferies to raise its FY23 EPS estimate by 26% to $10 with room seen for "additional EPS upside."
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Published first on TheFly
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