Barclays analyst Ross Sandler raised the firm’s price target on Meta Platforms (META) to $630 from $550 and keeps an Overweight rating on the shares following the Q3 report. Meta “seems to have its mojo back,” evidenced by growth well above the digital ad industry, artificial intelligence improving the business, and CEO Mark Zuckerberg “flexing the roadmap with a willingness to bet big,” the analyst tells investors in a research note. While long term tech investors should applaud these efforts, it is “scary at the same time” with Met’s multiple hitting recent highs, contends Barclays.
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