Meta's AI Innovations and Revenue Surge Bolster Confidence, Analyst Sees 30% Upside
Portfolio Pulse from Anusuya Lahiri
Truist Securities analyst Youssef Squali reiterated a Buy rating on Meta Platforms Inc (NASDAQ:META) with a price target of $390. Squali expects strong growth recovery for META in 3Q23, with revenues up 21% Y/Y. He raised estimates for Reality Labs' revenue for 4Q23 to $981 million and for FY24 to $2.16 billion. Squali expects Q3 revenue of $33.49 billion, Q4 revenue of $39.07 billion, and FY23 revenue of $133.20 billion. META shares traded higher by 1.25% at $303.97.
October 02, 2023 | 6:05 pm
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Analyst Youssef Squali reiterated a Buy rating on Meta Platforms Inc with a price target of $390. He expects strong growth recovery in 3Q23, with revenues up 21% Y/Y. META shares traded higher by 1.25% at $303.97.
The analyst's positive outlook on Meta Platforms Inc, including a Buy rating and a price target of $390, indicates strong confidence in the company's future performance. This is likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100