Fundamental, Research

META Platforms Q4 Preview – China and AI Supporting Ad Spend

Angelo Zino, CFA, VP of Equity Research and Tech Sector Head
18 January 2024

Summary

META Platforms Inc. (META) will release its Q4 2023 financial results on February 1st. Our 12-month target price on META's stock has been raised from $390 to $430. Although we expect growth to slow in 2024, we believe that META's attractive valuation, a healthy digital ad market and AI prospects, make for a compelling investment opportunity. Ad revenue is projected to grow 20%-21% in Q4 2023 and mid-teens growth is expected for 2024.


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