UBS analyst Lloyd Walmsley raised the price target on Meta Platforms Inc. to $300 from $280 and kept a Buy rating on the shares. The price target implies an upside of 29.4 percent.
The impact of the Russia–Ukraine war is more than offset by the company’s lower operating expense estimates.
While consensus earnings will move down in the “preview season,” this is already expected by investors.
Meta’s Instagram Newsfeed changes, improving Reels content, and algo can drive better engagement that he anticipates monetizing later in 2022 and in 2023.
Stifel also previously expressed its bullishness in Meta for the same reasons.
Benchmark expressed its concerns regarding Apple Inc.’s privacy changes and the metaverse.
Several Meta employees saddled with underwater stock options looked to depart following its plunging stock prices.
By Anusuya Lahiri
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