KeyBanc analyst Justin Patterson maintains $Meta Platforms (META.US)$ with a buy rating, and adjusts the target price from $560 to $655.
According to TipRanks data, the analyst has a success rate of 52.2% and a total average return of 8.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Meta Platforms (META.US)$'s main analysts recently are as follows:
The firm is altering its projections to account for the significant near-term impact of political advertising expenditures, along with the regulatory uncertainties surrounding TikTok. The firm cautions that, according to its expert advertising channel assessments, the one-time revenue momentum for Meta Platforms is diminishing, and the consumer packaged goods and leisure sectors are showing signs of softening. Additionally, the firm's projections for the company's capital expenditures in FY25 are set at $50 billion, contrasting with the broader market's expectation of $46 billion.
The firm's observations indicate that the advertising market maintained its robustness in the third quarter. Together with beneficial shifts in several major currencies, it is anticipated that this will lead to results surpassing the Street's revenue and profitability projections for Meta Platforms. Additionally, it is expected that product cycles at Meta will continue to support strong growth going into 2025.
Note:
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