Wells Fargo lowered the firm’s price target on Meta Platforms to $600 from $609 and keeps an Overweight rating on the shares ahead of the company’s Q1 report. Advertising checks suggest continued strong growth, says the firm, which raised Meta’s ad growth estimate for Q1 and expects solid Q2 guidance. Wells expects Q2 to the best the last period of materially above-trend growth at Meta and sees its second half of the year ad growth tracking more closely with industry trends.
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