Raymond James reiterated its Strong Buy rating on Meta Platforms and cited a price target of $860. The firm pointed to positive advertising trends and the potential of Meta’s AI-driven ad system.
Investors are watching Meta’s upcoming quarterly results for signs that its substantial AI spending is translating into advertising revenue growth and stronger user engagement. The results are also expected to shed light on adoption of Muse, the company’s personal assistant.
Recent AI product launches have shifted Meta’s narrative from AI laggard to back on offense. That shift could foreshadow higher AI spending across the tech sector.