Meta Platforms price target raised to $635 from $620 at Roth MKM

Roth MKM raised the firm’s price target on Meta Platforms (META) to $635 from $620 and keeps a Buy rating on the shares. The stock declined 3% after-hours as Q3 revenue came below high-end guide, though the firm was impressed by Q4 revenue guide implying 20% growth exiting 2024, the analyst tells investors in a research note. Roth MKM also recommends to buy the weakness, with Meta shares trading at about 25-times expected FY24 EPS and 22-times FY25 EPS while clocking in above-peers growth at its scale over the past six quarters.