Meta Platforms stock surged after bullish analyst note and market optimism, hitting all-time high.

From Nasdaq: 2024-04-04 12:14:01

Shares of Meta Platforms (NASDAQ: META) surged after receiving a bullish analyst note from Jefferies and market optimism following reassurances from Fed Chair Jerome Powell. The stock hit an all-time high, with a 3% increase by mid-morning.

Jefferies raised Meta’s price target to $585 and predicted it could capture 50% of ad dollars in 2024, driving 20% revenue growth. The company’s recent strong earnings report, with a 24% increase in advertising revenue, showed positive momentum.

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Read more at Nasdaq: Why Meta Platforms Stock Was Climbing Today