Meta Platforms Inc. (META) PT Raised to $550 at Roth/MKM

Roth/MKM analyst Rohit Kulkami raised the price target on Meta Platforms Inc. (NASDAQ: META) to $550.00 (from $510.00) while maintaining a Buy rating.

The analyst comments "META reported an emphatic beat-and-raise earnings report and surprisingly left Op. Expenses outlook unchanged, and unsurprisingly raised 2024 CapEx outlook. META's AI investments are already providing returns via improved monetization efficiency across all ad surfaces and significant market share gains. Until there's a consensus around 2025 investments and profitability algorithm, we see shares hovering around +/- 10% current after-hours levels of ~$510/share. PT goes to $550 ~.22.5x '25E EPS."

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