From Financial Modeling Prep: 2024-07-08 17:53:00

Wedbush analysts raised Meta Platforms’ price target to $570 due to strong advertiser demand, surpassing expectations for both Pinterest and Meta. Revenue from US-based advertisers has accelerated for five consecutive quarters, with 44% planning to increase spending by over 10% in Q3. Wedbush predicts a milder deceleration in US advertiser growth through 2024, increasing revenue and operating income estimates for Meta. Maintaining an Outperform rating, Wedbush is confident in Meta’s sustained growth in the digital advertising market.



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