Analysts Lift Price Targets On Meta Platforms Stock Ahead Of Q3 Earnings: Here's Why

Meta Platforms Inc (NASDAQ:META) shares are trading narrowly higher Thursday. Multiple analysts raised price targets ahead of earnings in two weeks. Here’s what you need to know.

What To Know: Mizuho analyst James Lee maintained Meta with an Outperform rating and raised the price target from $600 to $650 as he anticipates a beat-and-raise quarter from the tech giant later this month.

The Mizuho analyst noted that a series of ad agency checks shows that ad spending is ahead of consensus estimates and at the high-end of Meta’s guidance for 20% growth year-over-year. Lee believes the strength in ad spending is being driven by political advertising.

“Although the stock is a crowded trade into ...

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