Bank of America resets Meta stock forecast before earnings

Bank of America resets Meta stock forecast before earnings

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Key Points:

  • Meta Platforms (META) stock has risen about 8% over the past five days, outperforming the S&P 500 ETF, driven by positive sentiment ahead of its Q4 earnings report scheduled for January 28.
  • Bank of America analysts expect Meta’s Q4 revenue and EPS to exceed Wall Street estimates, with projections of $59.2 billion in revenue and $8.27 EPS, and they maintain a buy rating with an $810 price target.
  • Meta’s recent layoffs in its Reality Labs division, which has incurred $73 billion in losses since 2021, and the absence of a large one-time tax charge that impacted Q3 earnings are contributing to optimism about improved financial results.
  • Legal challenges are mounting for Meta,

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