Meta: share price rises as Wedbush raises target
Shortly before 10:00 a.m. (New York time), the stock gained 0.8%, while the S&P 500 index advanced 0.1% at the same time.
In a wide-ranging study devoted to Internet stocks, Wedbush Securities explains that platforms exposed to consumer consumption should remain well positioned next year.
Its best ideas in this field are Amazon (e-commerce), Meta (digital advertising), Booking (online travel reservations) and Uber (mobility services).
For Wedbush, Meta should benefit - like Amazon and Google - from the emergence of new services in generative artificial intelligence likely to be monetized and extended.
Against this backdrop, the broker has raised its price target on the stock from $350 to $420, while renewing its 'outperform' rating on the social media giant.
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