Meta Platforms price target raised to $675 from $600 at Evercore ISI

Evercore ISI raised the firm’s price target on Meta Platforms (META) to $675 from $600 and keeps an Outperform rating on the shares following what the firm describes as “Modest Beat & Raise Q3 EPS results.” Following the Q3 report, the firm’s revenue estimates are “largely unchanged,” its FY24 and FY25 operating income estimates are each raised 4%, and its FY24 and FY25 EPS estimates move up 6% and 7%, respectively, the analyst tells investors.