Truist Securities analyst Youssef Squali reiterated a Buy rating on Meta Platforms Inc (NASDAQ: META) with a price target of $390.
Squali remains constructive on META based on his expectations for a strong growth recovery in 3Q23, with revenues up 21% Y/Y vs. 11% in 2Q23 and 3% in 1Q23; on the prospects for sustained growth into 4Q23 and on a solid showing of what is to come in terms of AI-powered experiences and hardware at Meta Connect last week.
The analyst raised estimates for Reality Labs' revenue for 4Q23 to $981 million from $582 million and for FY24 ...