Meta Platforms price target raised to $455 from $425 at Jefferies

Jefferies analyst Brent Thill raised the firm’s price target on Meta Platforms to $455 from $425 and keeps a Buy rating on the shares. The firm’s recent digital ad checks have been “the most positive we’ve seen in several years,” says the analyst, who adds that the checks add conviction in Q4 revenue coming in at the high end of guidance and Q1 revenue guidance coming in above the Street view at the high end. Despite the 194% return in 2023, the stock looks “inexpensive” and can “grind higher” with accelerating revenue growth and positive EPS revisions, the analyst tells investors in an earnings preview note.