(See Meta Platforms Financial Statements on TipRanks) Anmuth expects Meta's revenue to return to double-digit growth in the second half of 2023 and 2024, fueled by several key drivers like artificial intelligence and product-driven improvements to the ad stack following the implementation of Apple's App Tracking Transparency feature, the rise in the engagement and monetization of Reels, and the solid rise in click-to-message ads. "While Meta shares have more than doubled off the early November lows, we still think there's meaningful upside ahead driven by accelerating revenue growth, continued cost efficiencies, and still attractive valuation," the analyst said. Based on his bullish investment thesis, Anmuth raised his December 2023 price target for META stock to $270 from $225 and reiterated a buy rating.