CMB International Securities Raised the Firm's PT on Meta Platforms (META)

Meta Platforms, Inc. (NASDAQ:META) is one of the Good Stocks to Invest in Now. On August 1, Saiyi He from CMB International Securities raised the firm’s price target on Meta Platforms, Inc. (NASDAQ:META) from $760 to $860, while maintaining a Buy rating on the stock.

The analyst noted that the company’s Q2 revenue grew by 22% year-over-year, driven by AI-enhanced ad impressions and pricing. Moreover, the net income grew by 36%, which was well above expectations. Saiyi noted that the management is expecting continued revenue growth in the third quarter as well, beating the market expectations.

The analyst highlighted that AI advancements are central to Meta Platforms, Inc.’s (NASDAQ:META) business. The company has improved AI-powered ad recommendation models, leading to better ad conversions on Facebook and Instagram. It is also investing in AI talent and infrastructure, which Saiyi believes will help the company maintain its AI leading position.

Meta Platforms, Inc. (NASDAQ:META) is a tech company that connects people through social media and immersive experiences.

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Disclosure: None. This article is originally published at Insider Monkey.