Meta Platforms price target raised to $620 from $550 at Roth MKM

Roth MKM analyst Rohit Kulkarni raised the firm’s price target on Meta Platforms to $620 from $550 and keeps a Buy rating on the shares. The firm remains bullish on Meta’s medium-term and long-term prospects, though it is also taking an incrementally cautious stance heading into Q3 earnings amid “mixed” channel checks, a pullback from Chinese e-commerce advertisers, and buyside expectations for a clean beat and raise quarter having a “minimal margin of error”, the analyst tells investors in a research note.