Wells Fargo raised its price target on Meta Platforms (NASDAQ:META) to $280 from $250 and maintained its overweight rating on the stock. The bank noted that Meta has strengthened its commitment to improving organizational efficiency, announcing the layoff of about 10,000 employees during 2023 and lowering its operating expenditure guidance for 2023 to $86 billion to $92 billion from the previous $89 billion to $95 billion.