Meta Platforms price target raised to $800 from $780 at Pivotal Research

Pivotal Research analyst Jeffrey Wlodarczak raised the firm’s price target on Meta Platforms (META) to $800 from $780 and keeps a Buy rating on the shares. Meta reported “strong overall better than expected” Q3 results and guidance, including modestly lower than expected Q3 net new family daily active users which was more than offset by 19% revenue growth, the analyst tells investors in a research note. The firm sees a strong revenue growth outlook from increased usage, new products and higher prices boosted by cost efficiencies.