JPMorgan Backs Meta with 'Buy' Rating Amid AI Growth Projections
Meta Platforms Inc's stock has received a 'buy' rating from JPMorgan Chase & Co, following positive early signs from its Meta One subscription offerings. The analysts forecast long-term growth for the company.
Wells Fargo & Company boosted their price objective on Meta Platforms from $640 to $796 and gave the company an 'overweight' rating in a report on Monday. BNP Paribas Exane started coverage on shares of Meta Platforms in a research report on Tuesday, June 2nd, issuing an 'outperform' rating on the stock.
Susquehanna lowered their price target on Meta Platforms from $900 to $650 and set a 'positive' rating on the stock in a research note on Thursday, July 30th. Phillip Securities raised shares of Meta Platforms from a 'buy' rating to a 'strong-buy' rating and dropped their price objective for the company from $795 to $750 in a research note on Monday, August 3rd.
The analysts are optimistic about the company's long-term growth prospects due to its expanding AI hardware ecosystem. Meta unveiled the Muse Charm handheld device, camera-free Ray-Ban Meta Audio glasses and $1,299 Meta VR Glasses, giving Muse additional distribution channels and potentially strengthening Meta's long-term platform strategy.