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4 big analyst picks: Meta stamped with 2 upgrades on Q1 stunner | Pro Recap

Investing.com
·2 min read

By Davit Kirakosyan

Investing.com -- Here is your daily Pro Recap of the biggest analyst picks you may have missed since yesterday: a pair of upgrades for Meta after its huge Q1, as well as new buy ratings for Momo, 2U, and Masco.

As always, InvestingPro subscribers got this news first. Start your free 7-day trial to get on board.

Meta earns two upgrades, shares surge on Q1 beat

Two Wall Street firms upgraded Meta Platforms (NASDAQ:META) following the company’s reported better-than-expected Q1 results and revenue guidance, which resulted in share price surging nearly 14% yesterday.

CFRA upgraded the company to Buy from Hold and raised its price target to $268.00 from $200.00, noting it sees further operating margin improvement from additional employee cuts (only 11,000 of 20,000 reflected in Q1) while favorable comps/forex and stable ad spend will allow revenue to outstrip costs.

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Meanwhile, Huber Research upgraded the company to Overweight from Neutral with a price target of $290.00.

InvestingPro subscribers got these headlines in real time. Get a jump on market-moving news by starting your free trial today.

Momo upgraded to Buy at UBS

UBS upgraded Hello Group (NASDAQ:MOMO) to Buy from Neutral and raised its price target to $12.50 from $4.80.

Earlier this month, the company received an upgrade from JPMorgan, which raised its rating to Overweight from Neutral with a price target of $13.00 (from $5.00).

The company reported its Q4 results last month, with both EPS and revenues coming in better than the consensus estimate.

2 more upgrades

Cantor Fitzgerald upgraded 2U (NASDAQ:TWOU) to Overweight from Neutral with a price target of $7.40 following solid Q1/23 earnings, which resulted in share price surging more than 5% yesterday (currently up 2% premarket).

According to the firm, the sell-off since February on regulatory overhang stemming from potential policy changes that the Department of Education (DoE) is considering, has dramatically improved the risk/reward profile of the shares. According to the firm, the market has already priced in a worst-case scenario for the shares, and it believes the likelihood of an actual worst-case scenario is minimal given the overwhelming support 2U has had from academia.

Jefferies upgraded Masco (NYSE:MAS) to Buy from Hold and raised its price target to $65.00 from $55.00 following the company’s reported Q1 beat on Wednesday.

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