Meta Platforms Stock Is Rising: What's Going On?
Portfolio Pulse from Adam Eckert
Meta Platforms Inc's shares are trading higher following the launch of its new social media platform, Threads, and a raised price target by KeyBanc. Threads, which is designed to compete with Twitter, connects to users' Instagram accounts and functions similarly to Twitter. The launch comes after recent criticism of Twitter's content limits and other changes under Elon Musk's leadership. KeyBanc analyst Justin Patterson maintained an Overweight rating for Meta and raised the price target from $280 to $335.
July 06, 2023 | 12:51 pm
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Meta Platforms' stock is trading higher following the launch of its new social media platform, Threads, and a raised price target by KeyBanc.
The launch of Meta's new social media platform, Threads, is a significant development for the company as it expands its product portfolio and competes directly with Twitter. This, coupled with KeyBanc's raised price target, is likely driving the increase in Meta's stock price.
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