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".
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on META:
- Raymond James Pounds the Table on Meta Stock
- Meta Platforms price target raised to $260 from $235 at Oppenheimer
- Meta Platforms price target raised to $260 from $228 at Citi
- Meta Platforms price target raised to $230 from $220 at BofA
- Meta Platforms price target raised to $238 from $220 at Raymond James