Meta's FY24 Ad Projections Raised as Reels Ad Load Hits 17%, Citigroup Analyst Predicts
Portfolio Pulse from Anusuya Lahiri
Citigroup analyst Ronald Josey has maintained a 'Buy' rating for Meta Platforms Inc (NASDAQ:META) and raised the price target from $315 to $360. This is due to Reels ad loads reaching 17% QTD, and the broader online advertising market showing stability. Josey projects a 14% Y/Y advertising revenue growth for Meta in 2024.
June 27, 2023 | 7:56 pm
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Citigroup analyst maintains a 'Buy' rating for Meta Platforms Inc and raises the price target from $315 to $360. The analyst projects a 14% Y/Y advertising revenue growth for Meta in 2024.
The raised price target and maintained 'Buy' rating by Citigroup analyst Ronald Josey indicates a positive outlook for Meta Platforms Inc. The projected 14% Y/Y advertising revenue growth for 2024 also suggests potential for increased profitability, which could positively impact the stock price.
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