Needham & Co. raised its rating on Meta Platforms Inc. to Hold from Underperform, saying internal checks point to stronger-than-expected labor productivity and potential upside to earnings estimates. The brokerage, however, cautioned that Meta’s strategy remains diffuse and that higher labor costs and mounting regulatory scrutiny could weigh on margins and capital allocation. The move follows Citizens JMP’s decision to maintain a Market Outperform recommendation and a $750 price target, highlighting Instagram’s leading engagement levels among young adults as a key competitive strength. Shares of Meta were little changed in early Thursday trading.