Meta Platforms price target raised to $300 from $250 at Morgan Stanley

Morgan Stanley analyst Brian Nowak raised the firm’s price target on Meta Platforms to $300 from $250 and keeps an Overweight rating on the shares. The $32B top end of Meta’s Q2 revenue guidance implies an estimated 500 basis point acceleration in year-over-year, ex-FX ad revenue growth, the analyst noted. The firm’s positive view is based on a growing and potentially industry-leading focus on efficiency and durable multi-year cash flow growth, combined with improving platform wide engagement and revenue trends from investments in AI and machine learning and Q1 results "delivered in both areas," the analyst added.