Meta Platforms price target raised to $235 from $210 at Mizuho

Mizuho raised the firm’s price target on Meta Platforms to $235 from $210 and keeps a Buy rating on the shares. Meta continues to deliver on its commitment to a "year of efficiency" by announcing another round of restructuring that lowers fiscal 2023 opex growth by seven points to 2% year-over-year, the analyst tells investors in a research note. The firm believes Meta "still has plenty of capacity to unlock further productivity" for two reasons: Metaverse investments still make up 11% of revenues and its research and development intensity is two-times that of peers Alphabet and Amazon. Mizuho maintains Meta as its top pick.