Meta Platforms price target raised to $265 from $230 at Truist

Truist raised the firm’s price target on Meta Platforms to $265 from $230 and keeps a Buy rating on the shares. The analyst is incrementally more positive on the stock after its better than expected Q1 results and Q2 guidance, with the resumption of positive growth in the ads business and expectations for re-acceleration in Q2. Meta’s focus on operating efficiencies is also bearing fruit with a massive reduction in FY23 Opex estimates, the firm tells investors in a research note.