Meta Platforms Stock Outlook: Analysts Upgrade Targets on AI Focus
Meta Platforms (META) shares have gained attention from analysts after CEO Mark Zuckerberg highlighted the company's increased focus on artificial intelligence (AI).
Piper Sandler analyst Thomas Champion maintained a "Buy" rating with a price target of $670, citing Meta's strategic investment in AI technologies. He expects Meta's focus on AI, particularly with the development of Meta AI, to drive growth.
Bank of America Securities also upgraded Meta to "Buy" with a higher price target of $710. The analysts recognize the company's potential for scaling AI applications in social media and digital advertising, where Meta holds a dominant position.
Zuckerberg's emphasis on AI could drive investor sentiment and enhance Meta's competitive edge. The company continues to explore new technologies, with AI at the forefront of its innovation efforts.