Meta Platforms: Wedbush raises its target
(CercleFinance.com) - Wedbush reiterates its 'outperform' rating on Meta Platforms, with a target price raised from $570 to $600, the day after the company reported solid quarterly results, with revenues and operating profit ahead of expectations.
While it also notes the increase in capex forecasts, the broker deems their level justified, given the benefits that AI is already bringing to the business and the considerable optionality for generative AI products and services in the longer term.
Wedbush thus sees Meta as a dynamic card to play in AI, with a massive and growing user base, as well as an emerging product roadmap across its family of applications and virtual reality labs.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
While it also notes the increase in capex forecasts, the broker deems their level justified, given the benefits that AI is already bringing to the business and the considerable optionality for generative AI products and services in the longer term.
Wedbush thus sees Meta as a dynamic card to play in AI, with a massive and growing user base, as well as an emerging product roadmap across its family of applications and virtual reality labs.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.