Citi analyst Ronald Josey keeps a Buy rating on Meta Platforms with a $645 price target following the Meta Connect conference. Meta’s new artificial intelligence products, features, and devices make Citi “incrementally confident” that the company’s product innovation can deliver increased engagement and monetization as the return from investment from its AI investments continues to expand, the analyst tells investors in a research note. Citi points out Meta’s AI is increasing functionality around voice, translations, and video as AI agents are now more interactive. The firm views Meta’s updated Ray-Ban Meta Smart Glasses as a “must buy” that can lead to greater overall engagement across Meta. The stock remains Citi’s top pick across the internet sector.
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