BofA Analyst Highlights Meta's Improved Reels Monetization and Rising Revenue Projections Ahead of Q3
Portfolio Pulse from Anusuya Lahiri
BofA Securities analyst Justin Post reiterated a Buy rating on Meta Platforms, Inc (NASDAQ:META) with a price target of $375. Post cut his estimates for recent currency translation changes but still aligns with Street for 3Q revenue. He expects Meta to benefit from the improving digital ad market, ramping Reels monetization, and improving AI-driven ad measurement. He projects FY23 revenue and EPS of $133.41 billion and 18.50, FY24 revenue and EPS of $151.77 billion and 23.00, and FY25 revenue and EPS of $169.1 billion and 26.45.
October 20, 2023 | 3:49 pm
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BofA Securities analyst Justin Post reiterated a Buy rating on Meta Platforms, Inc (NASDAQ:META) with a price target of $375. He expects Meta to benefit from the improving digital ad market, ramping Reels monetization, and improving AI-driven ad measurement.
The analyst's positive outlook on Meta's revenue and EPS for the next few years, along with the reiterated Buy rating, could potentially drive the stock price up in the short term. The expected benefits from the improving digital ad market and ramping Reels monetization also contribute to the positive impact.
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