Meta Platforms makes biggest gain since July as UBS praises Instagram feed changes
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Facebook/Instagram owner Meta Platforms (NASDAQ:FB) is making its biggest move up since July, now up 4.3%, as UBS boosts its price target with praise for some tech changes at Instagram.
The bank raised its target to $440 from $425, implying 30% upside - without changing estimates, but with boosted confidence on its near-term and long-term estimates.

A revamped newsfeed at Instagram has the "potential to provide a meaningful product cycle catalyst for shares," analyst Lloyd Walmsley and team write.
Two new settings in Instagram's feed has the company increasingly adding new tailored content drawn from beyond users' current follower graphs. And "We think drawing from a wider content base could unlock a meaningful lift in engagement, reminiscent to TikTok." It could improve the experience, unlock ad inventory and revenue, and draw younger users, UBS says.
Direct impact could be 7-12% of the bank's estimate for 2023 Meta ad revenues - Instagram makes up about 47% of that - and 40% upside to shares, if time spent per user at Instagram converges more toward TikTok-like numbers. And overall, UBS sees the move as a catalyst for multiple expansion, similar to Instagram's 2019 checkout announcement that spurred an 8% stock-price boost in two weeks followed by 11% the month after.
Previously, early Facebook investor Roger McNamee said that Meta has become "fundamental to the dark side of the economy."