META : price target raised by Jefferies
Based on its updated market share analysis, the broker believes Meta could capture 50% of the industry's advertising dollar earnings this year, which would be its highest level ever, and well above its 33% in 2023.
In 2024, Jefferies estimates that advertising sales could grow by 20% or more (compared with an industry average of 9%), as the scaling of generative AI advertising tools complements Meta's Advantage+ product suite, 'already best-in-class'.
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