KeyBanc Reiterates Overweight on Meta, $780 PT
KeyBanc analyst Justin Patterson reiterated an Overweight rating and $780 price target on Meta Platforms Inc.
(NASDAQ: META).
“Settlement Removes an Overhang and Shifts Focus Back to Product Cycle; We view Wednesday’s announcement as providing more clarity into product features and legal fees, and promoting an industry-wide framework to teen safety for others (namely YouTube and TikTok to follow).
With teens representing <1% of revenue, we expect potential revenue headwinds to be immaterial.
In our view, this settlement removes an overhang and shifts the focus back to the AI product cycle and optionality on new revenue streams (e.g., business messaging, compute, consumer AI).
We maintain our OW rating.”
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