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| Name | Meta: KeyBanc raises price target on ad growth, strong advertising demand, AI, and growth |
| Video Uploader | Video From Yahoo Finance |
| Upload Date | This Video Uploaded At 21-06-2024 16:10:40 |
| Video Discription | KeyBanc has adopted a bullish stance on Meta's (META) growth prospects. Justin Patterson, Keybanc managing director, has lifted his price target on Meta to $540 from $475, citing sustained advertising momentum. Patterson joins the Morning Brief to discuss his outlook on the tech giant. Patterson highlights that Meta's ad revenue is "accelerating sequentially" despite intensifying competition, indicating that "demand for Meta's advertisements remains very high." He notes that advertisers are willing to bid at higher rates to reach Meta's user base, emphasizing that "the returns for this AI advertising cycle are still very strong." Beyond advertising, Patterson points out Meta's broader AI benefits. He observes increased engagement across Meta's platforms due to AI investments, as well as ad-tech refinement boosting returns for advertisers. These factors, he argues, are contributing to Meta's overall gains in the market. Furthermore, with TikTok facing a potential ban, Patterson suggests that Meta's platforms could attract users needing to reallocate their social media time. About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance |
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