Wedbush raised the firm’s price target on Meta Platforms (META) to $770 from $700 and keeps an Outperform rating on the shares. The firm notes Meta reported strong Q4 results with revenue 3% ahead of the Street and operating income about 17% above consensus. Guidance for Q1 revenue growth was modestly below expectations on a reported basis due to a 300bps headwind related to FX. Q1 revenue guidance was in line with consensus on an FX-neutral basis, and Wedbush expects investors will look past near-term FX headwinds as the company continues to deliver improvements in user engagement and monetization.
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