Meta Platforms price target raised to $525 from $500 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the firm’s price target on Meta Platforms to $525 from $500 and keeps an Outperform rating on the shares. Since the presidential debate, Meta shares have underperformed the Nasdaq on possible repeal of TikTok ban, tariff risk for China advertisers, and a long-running feud with Donald Trump, the analyst tells investors in a research note. As a result, the firm is less concerned with high second half of 2024 investor expectations, supported by a “robust” digital advertising market. Opco increased Q3 estimates on continued China advertiser demand, saying U.S. import volumes and shipping prices from East Asia to the U.S. are showing strong demand for China products, suggesting China advertiser tailwind continues. The firm says the Meta shares are “derisked” into the Q2 report.