Meta Platforms price target raised to $260 from $230 at Wolfe Research

Wolfe Research raised the firm’s price target on Meta Platforms to $260 from $230 and keeps an Outperform rating on the shares. Meta remains the analyst’s top pick into Q1 earnings. The results and Q2 guidance should reflect a relatively stable demand environment and progress on the company’s growth initiatives and cost savings, the analyst tells investors in a research note. The firm says Meta’s valuation is still compelling at current levels.