KeyBanc raised the firm’s price target on Meta Platforms to $655 from $560 and keeps an Overweight rating on the shares. The firm’s checks suggest the ad market remained solid in Q3. Coupled with more favorable movements in several key currencies, KeyBanc expects to see upside to Street revenue and profitability forecasts at Meta. Further, the firm believes product cycles at Meta will likely sustain solid growth into 2025.
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