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. The analyst cites the company’s second round of job cuts impacting 10K positions that will lead to $2.5-$3.5B in annualized saving and should start positively impacting profitability in the second half of this year. Truist adds that this move is a "welcome development" given the environment where growth has materially slowed and where forward visibility remains "hazy".
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