Wells Fargo analyst Ken Gawrelski raised the firm’s price target on Meta Platforms to $652 from $647 and keeps an Overweight rating on the shares ahead of its earnings report. The firm sees another robust quarter and solid forward quarter guide, but unlikely to materially alter Wells’ above-consensus 2025 EPS estimate of $27-plus. The stock is increasingly viewed as AI winner, but it’s likely range bound until 2025 OpEx/CapEx guide on Q4 2024 EPS call, the firm adds.
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