Mizuho Raised Meta Platforms (NASDAQ:META) price target to $235 Maintain Buy rating

Mizuho raised its price target on Meta Platforms (NASDAQ:META) to $235 from $210 and maintained a buy rating on the stock as a go-to stock. The analyst told investors in a research note that Meta continued to deliver on its promise of an “efficiency year,” announcing another round of restructuring that reduced operating costs by 7 percentage points in fiscal 2023 to year-over-year growth2. The bank believes that Meta “still has enough capacity to unleash further productivity”; Metaverse investment still accounts for 11% of its total revenue, and the research and development intensity is twice that of peers Alphabet and Amazon.

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