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.
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