tiprankstipranks
Meta Platforms price target raised to $530 from $525 at BMO Capital
The Fly

Meta Platforms price target raised to $530 from $525 at BMO Capital

BMO Capital analyst Brian Pitz raised the firm’s price target on Meta Platforms (META) to $530 from $525 but keeps a Market Perform rating on the shares. The firm notes the company’s Q3 revenue beat in raising its price target but also points to slowing user growth, with Daily Active People up 5% in Q3 vs. 7% in Q2, the analyst tells investors in a research note. With revenue growth of 15% expected for Q4, Meta’s 25-times next-12-months GAAP EPS multiple is “somewhat extended”, the firm added.

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App