The upper limit of Meta (META.US) 's 2Q24 revenue guidance was US$39 billion, implying room for growth of 22%, also 1% ahead of Morgan Stanley's expectations, Morgan Stanley issued a research report saying.
Morgan Stanley agreed that META should continue to accelerate its investments in AI infrastructure to realize more sustainable engagement and revenue growth.
The Company's 1Q24 results were also broadly in line with Morgan Stanley's expectations. Based on the Company's still-strong engagement growth and Reels' increased contribution to earnings, Morgan Stanley remained bullish on the Company, and kept its target price at $550, with rating at Overweight.
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