RBC Reiterates 'Outperform' Rating for Meta Platforms with $770 Price Target

Royal Bank of Canada (RBC) has reaffirmed its 'outperform' rating for Meta Platforms (NASDAQ:META), maintaining a price objective of $770.00 per share.

This move is part of a broader trend, as several other firms have raised their own price targets and given the company bullish assessments.

Analysts at RBC cited potential upside from increased user adoption of Meta's AI-powered features, such as Muse, which has gained traction with an estimated 642,000 daily U.S. users in its first 12 days.

However, concerns remain about the company's capital expenditures and valuation, with some analysts debating whether Meta's spending could approach $145 billion while free cash flow reportedly fell sharply.