TECH - Meta's Strategic AI Investments Enhance Ad Targeting Boosting Revenue Projections: Analyst | Benzinga
Truist Securities analyst Youssef Squali maintained Meta Platforms Inc (NASDAQ:META) with a Buy and raised the price target from $525 to $550.
The analyst raised his first-quarter and fiscal 2024 estimates for META to reflect improving pricing and monetization (particularly Reels) after a couple of years of compression, higher impression volume, and sustained must-buy status within the digital ad ecosystem amid ongoing cookie deprecation and a volatile macro.
Meta’s significant investments across its AI initiatives are yielding better ranking and recommendation results for users and advertisers alike, according to the analyst, and should bolster META’s competitive moat for years to come.
Squali projected $36.5 billion in revenue (prior $36.12 billion), which is ...