Barclays raised the firm’s price target on Meta Platforms (META) to $800 from $770 and keeps an Overweight rating on the shares. The firm says the company “back to business” in Q4. More impressive than Meta’s “massive” spending growth is its advertising revenue trajectory eclipsing 30% in Q1, which is “papering over many investor concerns,” the analyst tells investors in a research note. Barclays believes Meta continues to set the pace for the digital ad industry, with AI “option value still ahead.”
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