Shares of Meta Platforms (NASDAQ: META) were climbing on Tuesday, up about 3% as of 1:20 p.m. ET.

Meta continues to climb higher, despite already being up 131% on the year, as the stock appears to now be recovering from its multiyear sell-off, which culminated last fall. That's thanks to both a recovering advertising market, Meta's ability to use artificial intelligence (AI) to regain engagement and ad targeting capabilities, and a pullback on its massive metaverse spending that was concerning investors.

On Tuesday, the social media juggernaut got even better news, as a Wall Street firm raised its price target on its shares. 

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Source Fool.com