Meta's AI Edge: Undervalued Assets Could Drive Surprising Gains, Analysts Say
Portfolio Pulse from Anusuya Lahiri
BofA Securities analyst Justin Post reiterated a Buy rating on Meta Platforms Inc (NASDAQ:META) with a price target of $550, citing underappreciated AI assets and potential for revenue momentum in 2024. Post adjusted his revenue and EPS estimates for Q1 and Q2 based on positive ad checks, Easter benefits, and recent U.S. dollar depreciation. He highlighted Meta's strong AI capabilities, including an internal AI supercomputer and custom AI chips, as key drivers for future growth.
April 19, 2024 | 4:05 pm
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BofA Securities analyst Justin Post maintains a Buy rating on Meta Platforms Inc with a $550 price target, optimistic about its AI-driven growth and underappreciated assets.
The analyst's positive outlook and adjustment of revenue and EPS estimates for Meta Platforms Inc reflect confidence in the company's growth trajectory, especially in AI-driven ad improvements and product innovations. The reiteration of a Buy rating and a high price target suggests a strong belief in Meta's future performance, potentially influencing investor sentiment and stock price positively in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100