After Reels And Stories, Zuckerberg's Imitation Game With Threads Turns Meta Analyst Even More Bullish: Here's Why
Portfolio Pulse from Shanthi Rexaline
Meta Platforms, Inc. (NASDAQ:META) has launched its Twitter clone, Threads, to mixed reviews. KeyBanc Capital Markets analyst Justin Patterson has raised the price target from $280 to $335, suggesting a potential 14% upside. Patterson believes that if Meta can capture at least one-third of Twitter’s U.S. audience or reach 50% of Facebook’s U.S.-Canada audience, it could increase KeyBanc’s 2024 revenue estimate by $800 million to $6.7 billion.
July 06, 2023 | 8:45 am
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Meta Platforms has launched Threads, a Twitter clone. KeyBanc analyst Justin Patterson has raised the price target for Meta's stock from $280 to $335, suggesting a potential 14% upside.
The launch of Threads, despite mixed reviews, has led to increased optimism from KeyBanc analyst Justin Patterson. He believes that if Meta can capture a significant portion of Twitter's U.S. audience or Facebook's U.S.-Canada audience, it could significantly increase its revenue. This has led to a raised price target for Meta's stock, suggesting a potential upside.
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