Truist analyst Youssef Squali raised the firm’s price target on Meta Platforms to $230 from $215 and keeps a Buy rating on the shares following the announcement of a second set of layoffs. The firm estimates this will lead to $2.5B-$3.5 in annualized savings, which should start positively impacting profitability in 2H23, and be fully reflected in the P&L in FY24.
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