Meta Platforms' Bright Future: Citi Analyst Predicts Strong Growth In Ads, AI Innovations
Portfolio Pulse from Anusuya Lahiri
Citi analyst Ronald Josey maintains a Buy rating on Meta Platforms Inc (NASDAQ:META) with a $440 price target, citing strong growth in ads and AI innovations. Josey predicts Q4 ad load expansion and notes newer ad products are in higher demand. He expects Meta's Q4 earnings to surpass consensus estimates with projected revenue of $39.45 billion and EPS of $4.83. Meta's stock rose 170% last year, and CEO Mark Zuckerberg sold $428 million worth of stock in the last two months of 2023.
January 23, 2024 | 6:50 pm
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Citi analyst Ronald Josey's positive outlook on Meta Platforms, including a Buy rating and a $440 price target, suggests strong growth in ads and AI, which could lead to a positive short-term impact on META's stock price.
The analyst's positive remarks, especially the anticipation of better-than-expected Q4 earnings, are likely to instill investor confidence and could drive the stock price up in the short term. The recent stock performance and insider trading by CEO Zuckerberg may also influence investor sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100