Wells Fargo raised the firm’s price target on Meta Platforms (META) to $685 from $641 and keeps an Overweight rating on the shares. The firm is more cautious near-term on Meta shares as Q1 guide has potential to disappoint. Wells is adjusting estimates downward for weaker FX and more mixed exit rate to Q4 advertising growth. The gap between its estimates and Street narrows for FY25/FY26, but remains above consensus, the firm notes.
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