New Street Research - Facebook Inc. Class A (FB) Meta Platforms (META, Buy, raising target to $600 from $555) Quick Thoughts Ahead of Wednesday’s Print

Report

New Street Research

Dan Salmon

EUR 9318.00 For Business Accounts Only

Meta Platforms (META, Buy, raising target to $600 from $555) Quick Thoughts Ahead of Wednesday’s Print

Ahead of Wednesday PM’s earnings report, we review what to listen for on the earnings call, our top questions for management, and potential positive and negative catalysts for META.

22/04/2024 1 EN

Underlying

Facebook Inc. Class A

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.

See profile

US30303M1027 NASDAQ Stock Market United States

Provider

New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

See profile

Analysts

Dan Salmon

Other Reports on these Companies

Moody's Investors Service

Meta Platforms, Inc.: Update to Credit Analysis Following Upgrade to Aa3

Our credit view of Meta reflects the company's leading market position, exceptional liquidity, very strong credit metrics, and profitability offset by material legal and regulatory risks

EUR 232.95

April 30, 2024 April 30, 2024 1 EN

New Street Research

GOOGL/AMZN/META: How much are they spending on AI Capex (v2.3)?

We remain above 2024 consensus for each of GOOGL (9% higher), AMZN (11%) and META (13%). For 2025-2027, we are at least 8% ahead of consensus for each, including 27% ahead for META in 2025.

EUR 9318.00

April 30, 2024 April 30, 2024 1 EN

New Street Research

META 1Q24 Model Update: Target declines to $580 from $600 on higher capex/D&A

Our target price declines to $580 from $600 on lower estimates. Investment Thesis: META may be in the penalty box for a few quarters as consensus estimates come in, and catalysts get more likely going into September events (Connect, Conversations). We remain Buy rated and would build positions near-term, then accumulate more aggressively as catalysts approach.

EUR 9318.00

April 29, 2024 April 29, 2024 1 EN

Frontier Model Update

This note focuses on changes to the model following 1Q24 results. Earlier today, we published a review of results and comprehensive thoughts following the earnings call. The changes to estimates are minor. Our long-term thesis remains unchanged. Price target is $52.

EUR 9318.00

4h / 21m 4h / 21m 1 EN

Jonathan Chaplin

Jonathan Chaplin

FYBR: quick thoughts following the call Part 2

We commented earlier on the implications of the delay in the analyst day. In this follow up, we cover: 1) the growth / margin trade-off; 2) fiber broadband ARPU growth; 3) SAC growth; 4) EBITDA growth; 5) fiber penetration; 6) ACP; 7) fiber net adds. We covered what we expect for the strategic review in our quick take on results this morning.

EUR 9318.00

6h / 5m 6h / 5m 1 EN

Jonathan Chaplin

Jonathan Chaplin

FYBR quick thought following the call

In this quick note we touch on our thoughts around the delay in the analyst day. We will follow up shortly with further thoughts on operating and financial trends.

EUR 9318.00

12h / 54m 12h / 54m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Meta Platforms (META, Buy, raising target to $600 from $555) Quick Thoughts Ahead of Wednesday’s Print

Meta Platforms, Inc.: Update to Credit Analysis Following Upgrade to Aa3

GOOGL/AMZN/META: How much are they spending on AI Capex (v2.3)?

META 1Q24 Model Update: Target declines to $580 from $600 on higher capex/D&A

Frontier Model Update

FYBR: quick thoughts following the call Part 2

FYBR quick thought following the call

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe