BofA analyst Justin Post raised the firm’s price target on Meta Platforms to $230 from $220 and keeps a Buy rating on the shares after the company announced another round of layoffs. The firm expects some impact on revenues from layoffs, and with financial sector pressures is modestly lowering revenue estimates. BoA added that it continues to see better EPS stability with Meta compared to the rest of the sector.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on META:
- Meta Platforms price target raised to $230 from $215 at Truist
- Another 10,000 Workers to be Ousted from Meta
- Meta Platforms price target raised to $305 from $275 at Evercore ISI
- Meta Platforms canceling projects that are lower priority, duplicative
- Meta Platforms announces additional workforce reductions of about 10,000 people