Bank of America Analyst Bullish on Meta Platforms Ahead of Q3 Earnings
Meta Platforms (META) is poised to report third-quarter results on October 29, with Bank of America analyst Justin Post maintaining a Buy rating and a $900 price target. Post anticipates a revenue beat, citing improving macroeconomic conditions and accelerating AI benefits as key drivers. Meta's stock has surged 25% year-to-date, buoyed by strong fundamentals and Optimism around its AI initiatives.
Wall Street expects EPS of $6.69, up 11% year-over-year, and revenue growth of 21.6% to $49.4 billion. Post's projections are more bullish, forecasting $50 billion in revenue and $7.30 EPS. He attributes potential upside to increased ad spend compensating for subdued organic Google traffic, though operating margins may dip slightly to 42.3%.