UBS raised the firm’s price target on Meta Platforms (META) to $897 from $812 and keeps a Buy rating on the shares. The firm views the company’s Q2 report as a “blockbuster” with advertising revenue better than expected and guidance above estimates. Meta’s ad growth was driven by impressions rather than pricing, suggesting the trajectory can sustain over the mid term, the analyst tells investors in a research note. UBS increased estimates post the results.
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