Reels' Ad Surge Positions Meta As A Top Internet Pick: Citi Analyst
Portfolio Pulse from Anusuya Lahiri
Citi analyst Ronald Josey reiterated a buy rating on Meta Platforms Inc (NASDAQ:META) with a $385 price target. He noted that Meta's ad loads have increased, and with greater advertiser demand and an improving online advertising environment, Meta is gaining a larger share of the online advertising market. Josey also opened a 90-day Positive Catalyst Watch for Meta, expecting more details about Meta's GenAI plans and results in late October.
September 25, 2023 | 9:06 pm
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Citi analyst Ronald Josey reiterated a buy rating on Meta Platforms Inc (NASDAQ:META) with a $385 price target. The company's ad loads have increased, and it is gaining a larger share of the online advertising market.
The reiteration of a buy rating by a Citi analyst, coupled with an increase in ad loads and a larger share of the online advertising market, is likely to have a positive impact on Meta's stock in the short term. The analyst's positive outlook and the $385 price target suggest a potential upside for the stock.
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