Meta Platforms: Wedbush raises its target

(CercleFinance.com) - Wedbush reiterates its 'outperform' rating on Meta Platforms, with a target price raised from $570 to $600, the day after the company reported solid quarterly results, with revenues and operating profit ahead of expectations.


While it also notes the increase in capex forecasts, the broker deems their level justified, given the benefits that AI is already bringing to the business and the considerable optionality for generative AI products and services in the longer term.

Wedbush thus sees Meta as a dynamic card to play in AI, with a massive and growing user base, as well as an emerging product roadmap across its family of applications and virtual reality labs.


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