Bank of America Securities report pointed out that Meta's third-quarter revenue exceeded market expectations, mainly benefiting from the increase in usage driven by artificial intelligence (AI) and the improvement in advertising targeting, while earnings per share continued to exceed expectations. The bank believes that Meta's AI-driven advertising improvements still have several quarters of development space, seeing strong growth momentum in 2025, including the growth trends driven by AI and video usage, AI solutions (Advantage+) bringing higher return on investment and incremental advertising expenditures, accelerating monetization of messaging (business messaging, click message advertising), as well as undeveloped assets (Meta AI, Threads). The bank also believes that Meta's increasingly strengthened AI focus may bring positive product surprises in the coming quarters (such as AI customer service products, Meta AI advertising, or subscriptions), which may boost market optimism about its growth. The bank raised the group's EPS for 2025 by 6% to $25.78, revenue also increased by 3% to $188 billion, and the target price correspondingly increased from $630 to $660, reaffirming a "buy" rating.