What's Going On With Meta Stock Monday?
Portfolio Pulse from Anusuya Lahiri
Meta Platforms, Inc (NASDAQ:META) is facing a potential penalty from Norway's data protection authority, Datatilsynet, for privacy breaches. The fine could be one million crowns ($100,000) per day, pending remedial action. This comes after the European Union's top court ruled that Meta cannot harvest user data for behavioral advertising. Despite this, analysts from JMP Securities, Goldman Sachs, and Credit Suisse have maintained positive ratings for Meta and raised their price targets.
July 17, 2023 | 3:32 pm
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Meta Platforms is facing potential regulatory fines in Norway for privacy breaches. Despite this, analysts maintain positive outlooks and have raised their price targets.
The potential fines from Norway's regulator could negatively impact Meta's financials in the short term. However, the positive ratings and raised price targets from analysts suggest confidence in the company's long-term performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100