Meta Platforms Positioned for Growth with Recovery in Ad Spending and Positive User Engagement, Analyst Says
Portfolio Pulse from Anusuya Lahiri
Truist Securities analyst Youssef Squali has maintained a Buy rating on Meta Platforms Inc (NASDAQ:META) and raised the price target from $265 to $340. The analyst is positive on Meta due to a recovery in ad spending and positive user engagement. The company's focus on operating efficiencies and investment in AI/ML are also seen as positive. However, despite initial success, Threads, Meta's new platform, has seen a decrease in daily users and time spent per user.
July 19, 2023 | 5:53 pm
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POSITIVE IMPACT
Meta Platforms Inc's stock is likely to be positively impacted by the raised price target and maintained Buy rating from Truist Securities. However, the decrease in user engagement on Threads could be a concern.
The raised price target and maintained Buy rating from Truist Securities indicate a positive outlook for Meta Platforms Inc. This could lead to increased investor confidence and a potential rise in the stock price. However, the decrease in user engagement on Threads could be a concern for investors, potentially impacting the stock negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100