Meta Stock Gets Price Target Boost But Will Need To ‘Make Case’ For Big AI Costs
Meta Platforms (META) Chief Executive Mark Zuckerberg’s big AI spending plan shows confidence in the social media giant’s current trajectory but also ups the stakes for the company’s upcoming second quarter earnings report, a Meta stock analyst with Bank of America said Tuesday.
BofA Securities analyst Justin Post raised his price target for Meta stock to 775, from 765, in a client note. The note followed a Threads post from Zuckerberg on Monday, where he said Meta will spend “hundreds of billions” on AI infrastructure to support its AI efforts. That includes a goal to unlock AI superintelligence. Meta also plans to build several multi-gigawatt data centers.
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