Citi ‘impressed’ with early adoption of Meta’s Threads

Citi analyst Ronald Josey reiterates a Buy rating on Meta Platforms with a $360 price target after the company released Threads. The analyst is “impressed” with the ramping adoption of Threads given Instagram integration and envisions the product becoming a key part of Meta’s engagement strategy over time. Threads is most comparable to Twitter and fills a space in Meta’s product strategy for public conversations with a focus on a more “friendly” environment across topics, the analyst tells investors in a research note. Citi also believes Threads creates a generative artificial intelligence opportunity to further train Meta’s large language models.