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.
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