Raymond James raised the firm’s price target on Meta Platforms to $238 from $220 and keeps an Outperform rating on the shares after the company announced another round of layoffs. The firm continues to expect long-term ad growth of 5%-10%, continued monetization of newer platforms and formats, and improving margin outlook. The firm added that it believes valuation is "attractive" at 10x 2023 Family of Apps EPS.
Published first on TheFly
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