Oppenheimer raised the firm’s price target on Meta Platforms (META) to $775 from $665 and keeps an Outperform rating on the shares. With the macro and advertising environment better than feared vs. six weeks ago, the firm is increasing its estimates and price target TikTok Q1 tailwind is potential near-term risk, assuming no ban, while longer-term risk is Meta falling behind on AI model development, Oppenheimer adds.
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