Guggenheim analyst Michael Morris raised the firm’s price target on Meta Platforms to $240 from $210 and keeps a Buy rating on the shares after updating the firm’s model to better reflect its view of 2023 core trends and the company’s cost controls. The firm’s recent advertising industry discussions suggest overall advertising demand stability relative to Q4 trends, with "modest differences" between platforms and verticals, the analyst tells investors. The firm’s higher target also reflects increased confidence around leadership decision-making, Guggenheim added.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on META:
- Meta (NASDAQ:META) to Trim Bonuses for Some Employees
- Wix.com announces expanded integration with Meta Platforms
- Meta Platforms price target raised to $270 from $225 at JPMorgan
- Meta VR device teardown shows chips mostly made by U.S. companies, Nikkei says
- #SocialStocks: TikTok aims to ease advertisers amid heightened U.S. scrutiny