Edward Jones analyst David Heger upgraded Meta Platforms to Buy from Hold. The company is reducing expense expectations, which addresses concerns about heavy spending on its metaverse initiative, the analyst tells investors in a research note. The firm also thinks Meta’s advertising revenue could stabilize and return to modest growth by the end of 2023 as the online ad market starts to recover.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on META:
- Meta rolling out verified subscription service in U.S., WSJ reports
- META, SNAP, or BILI: Which Social Media Stock Earns Wall Street’s “Strong Buy” Rating?
- Why Meta Platforms’ (NASDAQ:META) “Year of Efficiency” Strategy May Fail
- META Dives as Meta Verified Emerges in U.S.
- Meta Platforms price target raised to $190 from $175 at TD Cowen