Mizuho Securities analysts highlighted Meta Platforms (NASDAQ:META) as their new Top Pick, maintaining a Buy rating and a price target of $575. The firm’s thorough analysis of Meta’s primary products reveals potential for exceeding the consensus revenue forecast for fiscal 2024 and highlights significant opportunities in strategic assets.

According to the analysts, improvements in Reels monetization, geographic expansion, and a partnership with Amazon for Shops, along with a unified ranking system for optimizing video placements, underpin their confidence in projecting a revenue growth of 20%, which surpasses Street estimates.

The analysts also foresee accelerated growth for FB Shops owing to its expansion into new markets and a likely collaboration with Amazon in the second half of 2024. They suggest this development could mark a significant shift, transforming social media into a major platform for transactions, changing user behavior, and diverting retail media spending towards Meta. Additionally, long-term investments in WhatsApp, Generative AI for creative content, and the LLM Llama are expected to potentially enhance revenue per user by 65% over time.

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