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.
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 today’s best-performing stocks on TipRanks >>
Read More on META:
- Meta Platforms price target raised to $280 from $230 at Stifel
- Meta Platforms price target raised to $287 from $238 at Raymond James
- Meta Platforms price target raised to $320 from $270 at Barclays
- Meta Platforms price target raised to $300 from $260 at Wolfe Research
- Meta Platforms price target raised to $350 from $305 at Evercore ISI