Meta Platforms price target raised to $600 from $500 at Guggenheim

Guggenheim raised the firm’s price target on Meta Platforms to $600 from $500 and keeps a Buy rating on the shares. Q2 results and the company’s outlook “bolstered the bull case” that the company remains a critical destination for advertiser dollars, that new products can support additional growth, and that long-term ambitions will be invested in “an assertive but disciplined manner,” the analyst tells investors in a post-earnings note. The firm views Meta as “well led and positioned to leverage its dominant social advertising position into additional attractive ROI growth opportunities,” the analyst added.