"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."
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.
Read at 24/7 Wall St.
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