Meta Platforms price target raised to $690 from $635 at UBS

UBS raised the firm’s price target on Meta Platforms to $690 from $635 and keeps a Buy rating on the shares ahead of the Q3 earnings report. Despite a slower start, ad budgets accelerated in August into September due to uplift from political and brand advertising recovery, as well as improved consumer sentiment, the analyst tells investors in a research note. Meta also benefited from political spend and optimization and efficiencies, the firm says.