Raymond James analyst Josh Beck maintains $Meta Platforms (META.US)$ with a buy rating, and maintains the target price at $600.
According to TipRanks data, the analyst has a success rate of 60.1% and a total average return of 16.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Meta Platforms (META.US)$'s main analysts recently are as follows:
The firm's outlook on Meta Platforms has become more optimistic following Mark Zuckerberg's keynote, which emphasized advancements in Metaverse hardware and the expansion of AI features within Meta's suite of applications. Analysts believe that AI Glasses possess a significantly larger market opportunity compared to VR Goggles. The perspective that these glasses could place Meta in a leading position in the evolution of personal computing devices has sparked some renewed confidence among long-term investors. The firm also anticipates that the enhancement of AI capabilities could lead to increased app usage.
The company's Meta Connect conference underscored ongoing advancements in its artificial intelligence initiatives, which are yielding preliminary results via improvements in core products related to content and advertisements, as well as the introduction of new offerings like Meta AI, and the development of the Metaverse. There is a conviction that the company justifiably continues substantial investments in AI, supported by robust core operating outcomes, initial advantages from AI in user engagement and revenue generation, and a more defined AI product strategy.
The firm highlighted that the majority of advertising assessments for Meta Platforms in the third quarter were fairly satisfactory, with September showing improvement over August. They expressed confidence in their short-term forecasts and anticipate growth through 2025, citing stable macroeconomic trends and additional gains from messaging, hardware, and AI-driven platform improvements.
Note:
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