Citi analyst Ronald Josey believes Meta Platforms’ announced advertising-free subscription tiers for users in the Europe, effective in November, removes a key regulatory overhang on the shares. By offering an advertising-free subscription service, Meta can satisfy the European Union’s GDPR “consent basis” for collecting data in a likely revenue-neutral manner given the company plans to continue offering its core ad-supported service to most E.U. users, the analyst tells investors in a research note. Citi reiterates a Buy rating on Meta with a $425 price target.
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