Meta Platforms price target raised to $725 from $675 at Guggenheim

Guggenheim raised the firm’s price target on Meta Platforms (META) to $725 from $675 and keeps a Buy rating on the shares. Revenue and profit came in ahead of estimates and guidance while management’s Q2 revenue outlook range compared favorably with the firm’s estimate of “moderated investor consensus” that it believes was in the $43B-$44B range, the analyst tells investors. The “overarching message” of the quarter was that demand across the company’s portfolio remains strong, reflected in 6% user growth, 5% impression growth and 10% ad pricing growth, the analyst added.