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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on META:
- Meta Platforms price target raised to $315 from $260 at Citi
- Meta Platforms price target raised to $285 from $260 at Oppenheimer
- Meta Platforms price target raised to $263 from $257 at Rosenblatt
- Meta Platforms price target raised to $280 from $260 at Canaccord
- Meta Platforms price target raised to $220 from $195 at TD Cowen