Cantor Fitzgerald analyst Deepak Mathivanan maintains $Meta Platforms (META.US)$ with a buy rating, and adjusts the target price from $660 to $670.
According to TipRanks data, the analyst has a success rate of 63.4% and a total average return of 21.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Meta Platforms (META.US)$'s main analysts recently are as follows:
Ad budgets experienced an acceleration from August into September, attributed to a surge in political and brand advertising, alongside a rise in consumer sentiment. Furthermore, Meta Platforms saw benefits from political spending and advancements in optimization and efficiencies.
The firm is revising its expectations to account for the significant short-term revenue generated from political advertising and the ongoing uncertainties surrounding TikTok. Despite this, there is an indication from expert ad channel checks that Meta Platforms' one-time revenue boosts are diminishing and that the consumer packaged goods and leisure sectors are showing signs of weakening. It is also highlighted that the firm's projections for the company's capital expenditures in FY25 stand at $50 billion, compared to the broader market consensus of $46 billion.
Insights indicate that the advertising market maintained its strength in the third quarter. This, along with positive shifts in various major currencies, could lead to outcomes that surpass current revenue and profitability projections for Meta Platforms. Additionally, anticipated product developments at Meta are expected to continue driving robust growth through to 2025.
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