Meta Platforms price target raised to $230 from $210 at Stifel

Stifel analyst Mark Kelley raised the firm’s price target on Meta Platforms to $230 from $210 and keeps a Buy rating on the shares after the company released an 8-K detailing another round of job and cost cuts. The firm is lowering its total expenses for 2023 and 2024, but also marginally lowering its revenue growth assumptions as it anticipates some level of disruption given the April and May timing of the bigger component of these changes, the analyst tells investors in a research note.