Meta Platforms (Buy, TP: $350) Quick Thoughts Following META 2Q23 Calls: Near-term revenue acceleration + improving long-term ROI visibility
We are upgrading META to Buy from Neutral and raising our target to $350 from $285 following the release of Llama 2 and hearing very positive feedback on the company’s AI efforts during our AI Speaker Series last week.Facebook is building and engaging products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices. The company's products include: Facebook, which enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, which is a place where people can express themselves through photos, videos, and private messaging, and explore their interests in businesses, creators and communities; Messenger and WhatsApp, which are messaging applications; and Oculus, which connects people through its Oculus virtual reality products.
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