DA Davidson Reiterates Buy on Meta, Maintains $825 Price Target

Meta Platforms, Inc. (NASDAQ:META) is one of the AI Stocks Analysts are Tracking Closely. On October 27, DA Davidson reiterated its Buy rating on the stock and maintained its price target of $825.00. The firm is confident in Meta’s momentum despite macro and competitive factors.

According to the firm, Meta will likely continue to outgrow Google’s advertising revenue. However, its growth may decelerate due to tougher comparisons, including election-related spending.

While the firm doesn’t anticipate significant growth deceleration at Google, it is monitoring OpenAI closely.

“We expect META (BUY-rated $825 target) to continue outgrowing Google’s ad revenue, though growth may decelerate on tougher comps (including elections). We do not expect growth at Google to decelerate significantly, though we are monitoring OpenAI closely, as we believe the likely introduction of advertising around ChatGPT may create a headwind for Google Search advertising growth.”

Meta Platforms has been expanding its advertising capabilities and continues to invest heavily in artificial intelligence and the metaverse.

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