Shares of Meta Platforms Inc. gained 0.43% in five trading sessions, totaling a year-to-date increase of 19.77%. Citi and Bank of America raised their price targets to $803 and $765, respectively, citing favorable engagement and macroeconomic conditions. Despite mixed Q1 earnings results, where EPS missed expectations but revenue beat, increased user engagement supports a positive outlook. Legal issues, particularly recent claims surrounding national security concerns, pose challenges. Barclays lowered its price target to $640 while other major firms maintained or raised their targets, reinforcing a generally bullish sentiment towards Meta's future.
Citi raised its price target for Meta to $803 from $690, maintaining its 'Buy' rating, citing improved engagement and ad innovation as factors for growth.
Bank of America increased its price target for Meta to $765 from $690, noting easing macro uncertainties and a significant potential investment in Scale AI.
Despite missing EPS expectations in Q1, Meta's increased user engagement and AI expansion are attracting investor interest for long-term growth.
Legal issues continue to affect Meta, particularly claims made by its former Director regarding national security risks associated with their technology briefings.
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