20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Citigroup analyst Ronald Josey maintains Meta Platforms Inc (NASDAQ:META) with a Buy and raises the price target from $315 to $360.
With Reels ad loads reaching 17% QTD (and 18% in June) per his proprietary tracking and view that the broader online advertising market is stable-to-improving based on attendance at the Cannes-Lions Festival of Creativity last week, he raised his FY24 ad projections and a price target of his top-pick Meta.
The analyst's 17% 2Q23 QTD Reels ad load compares to 1Q's 16%. Josey believes Reels is experiencing greater advertiser adoption given its Lo-Fi approach to ads, newer ad products, and continued engagement growth—the latter likely results in more significant usage across Feed, Stories, Messenger, and WhatsApp.
The analyst now projects 2024 advertising revenue growth of 14% Y/Y and believes Meta's investments in GenAI can deliver incremental usage across its users, creators, and advertisers.
Price Action: META shares are up by 3.07% at $287.04 on the last check Tuesday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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