.September 10, 2024 Tuesday 01:58 PM

DA Davidson analysts initiated coverage on Meta Platforms Inc. (NASDAQ:META) with a Buy rating and a price target of $600, highlighting its leadership in future technology platforms and attractive valuation. The price target implies a 24x 2025 EPS valuation, a premium over Google, showing Meta’s strong positioning. Excluding the Reality Labs segment could lower the multiple to 16x, offering downside protection. Despite short-term challenges, Meta’s focus on large technology platforms presents a significant long-term growth opportunity, making it a top pick in the mega-cap space.