Meta (META) Stock: $240 Target And Outperform Rating

By Amit Chowdhry ● Jul 4, 2022
  • The shares of Meta Platforms Inc (NASDAQ: META) have received a $240 price target from JMP Securities. These are the details.

The shares of Meta Platforms Inc (NASDAQ: META) have received a $240 price target from JMP Securities. And JMP Securities analyst Andrew Boone is maintaining an “Outperform” rating on the shares.

Boone adjusted the rating in a research note about the Internet & Digital Media sector. And Boone had cited a rougher macro backdrop of high inflation, ongoing supply chain issues, increasing interest rates, and a harsher business and consumer environment. 

Going forward, Boone expects the digital advertising growth to have slowed through the second quarter and is now projecting 11% growth for global digital advertising in 2022 before a rebound arrives in 2023.

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