tiprankstipranks
Meta Platforms price target raised to $251 from $220 at Credit Suisse
The Fly

Meta Platforms price target raised to $251 from $220 at Credit Suisse

Credit Suisse analyst Stephen Ju raised the firm’s price target on Meta Platforms to $251 from $220 and keeps an Outperform rating on the shares ahead of quarterly results. With two rounds of cost cuts already announced, the investment rationale now hinges on revenue growth outperformance, the firm says. Credit Suisse notes that Meta has essentially replaced the post ATT $10B in lost revenue with Click-to-Message, and believes there is significant room for Meta to ramp revenue for both Messenger/WhatsApp. To this backdrop the firm adds search revenue, with the most meaningful recent update being Instagram’s announcement that it will start to show ads within search results, which Credit Suisse believes should add a new stream of high-margin revenue – potentially reaching close to $1B over the next several years.

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Read More on META:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles