Oppenheimer raised the firm’s price target on Meta Platforms to $260 from $235 and keeps an Outperform rating on the shares after the company announced another round of layoffs, impacting 10,000 employees, or an additional 14% reduction. The analyst increased both fiscal 2023 and 2024 EBITDA estimates by 12% and 2023 and 2024 earnings estimates excluding one time items by 22% and 24%, respectively.
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