Meta Is A Top Pick For This Analyst, Foresees Strong Revenue Growth Ahead
Portfolio Pulse from Anusuya Lahiri
Mizuho analyst James Lee maintains a Buy rating on Meta Platforms Inc (NASDAQ:META) with a price target of $400. Lee's agency checks indicate ad revenue growth is tracking ahead of consensus and expects further operating leverage from increased efficiency. He projects 3Q revenue of $33.36 billion vs. consensus $33.52 billion. Despite investor concerns about FY24 opex guidance reaching 20% YoY growth, Lee believes the probability is low. META remains Lee's top pick in his coverage universe.
October 13, 2023 | 6:02 pm
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Mizuho analyst James Lee maintains a Buy rating on Meta Platforms Inc (NASDAQ:META) with a price target of $400. He projects 3Q revenue of $33.36 billion vs. consensus $33.52 billion.
The analyst's positive outlook on Meta's revenue growth and operational efficiency, along with a maintained Buy rating and a price target of $400, are likely to have a positive impact on the company's stock in the short term. Despite the stock trading lower by 3.22% at the time of the report, the analyst's positive sentiment could potentially drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100