DA Davidson keeps a Buy rating and $825 price target on Meta Platforms (META) after its Q3 results and in spite of the earnings miss. Meta is continuing to ramp its spend on AI resources, which is primarily coming in the form of compute and talent – both of which the management believes is key to remain ahead of their competitors, the analyst tells investors in a research note. Reels continues to be a bright spot with time spent on Instagram up more than 30% Y/Y and is now at a $50B annual run rate, the firm added.
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