Meta Platforms price target raised to $375 from $350 at BofA

BofA analyst Justin Post raised the firm’s price target on Meta Platforms to $375 from $350 and keeps a Buy rating on the shares following a “strong” Q2 beat as ad demand improves and Reels ramps. The firm, which notes that it raised estimates before the print, is increasing “again.” For 2024, it raises its revenue forecast 3% to $153B and BofA increased its “above-Street” GAAP EPS forecast 4% to $17.57.