Bernstein raised the firm’s price target on Meta Platforms (META) to $900 from $775 and keeps an Outperform rating on the shares following quarterly results. The firm notes Meta destroyed expectations with perhaps one of the biggest prints in their history. Revenues were up +22% year-over-year powered by AI driving massive returns in both more engagement and better ad performance. Bernstein further adds that Q3 revenue guidance of 24% year-over-year on top end is “frankly hard to comprehend and shouldn’t be possible at this scale.”
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