Ronald Josey, an analyst from Citi, reiterated the Buy rating on Meta Platforms. The associated price target remains the same with $915.00.
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Ronald Josey has given his Buy rating due to a combination of factors, primarily focusing on Meta Platforms’ advancements in the smart glasses sector. The recent developments in AI-powered experiences and the integration of hardware with foundational models like Llama suggest that Meta is well-positioned in the second wave of smart glasses adoption. This phase emphasizes AI-powered experiences, which are expected to evolve significantly over the coming years.
Moreover, Meta’s strategic partnerships and product innovations, such as the Meta Ray-Ban Display and the Neural Band, provide a competitive edge in the market. The company’s multi-year head start in the smart glasses domain and the potential for these devices to become a natural extension of AI-driven internet experiences further solidify the positive outlook. These factors contribute to Josey’s confidence in Meta’s growth prospects, leading to the Buy rating.
According to TipRanks, Josey is a top 100 analyst with an average return of 27.1% and a 63.92% success rate. Josey covers the Communication Services sector, focusing on stocks such as Alphabet Class A, Meta Platforms, and Pinterest.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $810.00 price target.