(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation on Meta Platforms with a price target raised from $280 to $360, a new target that represents only 22.5 times its EPS-raised assumption for 2024.
The broker said it was positive on fundamentals, expecting second-quarter revenue expectations to be exceeded and third-quarter revenue forecasts ‘likely to call for accelerated growth on an easier comparison basis’.
“Despite a 159% increase since the beginning of the year, the title still seems inexpensive at 21 times 2024 EPS (compared to 26 times for the Nasdaq) and can increase in the event of positive EPS revisions”, he judges.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
