Meta Platforms price target raised to $250 from $225 at Jefferies

Jefferies analyst Brent Thill raised the firm’s price target on Meta Platforms to $250 from $225 and keeps a Buy rating on the shares. The combination of artificial intelligence investments leading to higher engagement and easier compares should drive accelerating revenue growth in the second half of 2023, the analyst tells investors in a research note. Further, Meta’s expense cuts and share buybacks could drive earnings upside, adds the firm. Jefferies sees upside in the company’s "underappreciated" click-to-messaging business and believes Meta can generate $12-plus in earnings per share by 2024.