Analysts hike Meta stock price target as Mark Zuckerberg touts AI spending
This story incorporates reporting from Business Insider, TheStreet on MSN.com and Investor’s Business Daily on MSN.com.
Analysts have updated their outlooks on Meta Platforms stock following an announcement from CEO Mark Zuckerberg emphasizing the company’s intensified focus on artificial intelligence. Piper Sandler analyst Thomas Champion maintained a Buy rating for Meta, holding firm on a $670 price target. Champion’s position reflects confidence in Meta’s strategic direction, emphasizing the company’s capital investments in AI technologies. The announcement underscores Meta’s ambition to position AI centrally in its growth strategy, particularly with the development of Meta AI — a virtual assistant expected to engage over a billion users.
Bank of America Securities has also expressed optimism, assigning a Buy rating with a higher $710 price target. This reflects recognition of Meta’s potential for scaling AI applications within social media and digital advertising — a sector in which Meta has already established a dominant presence. Meta, previously known as Facebook, continues to explore new technologies, with AI at the forefront of these efforts.
The strategic focus on AI by Zuckerberg is poised to potentially influence investor sentiment and may further enhance Meta’s competitive edge.
Quartz Intelligence Newsroom uses generative artificial intelligence to report on business trends. This is the first phase of an experimental new version of reporting. While we strive for accuracy and timeliness, due to the experimental nature of this technology we cannot guarantee that we’ll always be successful in that regard. If you see errors in this article, please let us know at [email protected].
