Meta shares hit intraday record after analyst says company 'has too many advantages to count'

Meta shares rallied to an intraday record on Thursday after analysts at Jefferies and RBC raised their price targets, citing the company's improving position in the digital ad market.Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023.

Analysts at Jefferies lifted their price target on Meta to $585 from $550 and said the company's gain in the ad market will increase this year. RBC Capital Markets analysts raised their target to $600 from $565 in a note on Wednesday. Among the roughly 50 price targets tracked by FactSet, RBC's estimate is tied for the highest along with that of both Wells Fargo and First Shanghai..

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Meta climbs to record after analyst lifts price target, says company ‘has too many advantages to count'Analysts at Jefferies and RBC lifted their price targets on Meta, citing the company’s improving position in the digital ad market.
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