Meta Platforms a Top Pick at Citi
<p>Citi analysts reaffirmed a Buy rating and a $385.00 price target for <a href='https://financialmodelingprep.com/financial-summary/META'>Meta Platforms (NASDAQ:META)</a>. The analysts noted that Reels ad loads have reached 19% quarter-to-date, up from 17% in the second quarter, based on their proprietary tracking. They believe Meta is gaining a larger share of the online advertising market due to increased ad units, strong advertiser demand, and a healthier online advertising environment. </p>
<p>According to their data, ad loads have grown to 18% in July, 19% in August, and around 20% in September. The analysts anticipate further upside potential as engagement continues to rise, especially with the growing popularity of Reels' Lo-Fi ad environment. </p>
<p>Citi also initiated a 90-day Positive Catalyst Watch ahead of Meta Connect on 09/27, where they expect to receive more information about Meta's GenAI plans and results in late October. Overall, Meta remains Citi's top pick in the Internet sector, and they would recommend buying on any significant share price pullback.</p>

NASDAQ:META