TD Cowen analyst John Blackledge increased the price target for Meta to $800 from $700 while keeping a Buy rating on the shares. The firm predicts that Meta will exceed Q2 consensus estimates, forecasting a revenue growth of 16% year-over-year, which is 2% above expectations. Factors driving this anticipated growth include ongoing monetization of video content and gains in user engagement. Furthermore, a recent Q2 check by TD on digital advertising revealed an acceleration in spending growth across Meta's platforms.
TD Cowen analyst John Blackledge raised the firm's price target on Platforms (META) to $800 from $700 and maintains a Buy rating on the shares.
The firm forecasts Meta to surpass Q2 consensus estimates with a projected revenue growth of 16% year-over-year, exceeding expectations by 2%.
Continued video monetization and engagement gains are expected to drive positive financial performance for Meta in the upcoming quarter.
TD's Q2 digital advertising expert check indicates accelerating spend growth across Meta properties, suggesting a robust advertising environment.
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