Meta Platforms price target raised to $440 from $375 at Loop Capital

Loop Capital analyst Rob Sanderson raised the firm’s price target on Meta Platforms to $440 from $375 and keeps a Buy rating on the shares. The analyst is citing last week’s Reels post by the company CEO Mark Zuckerberg as he had declared a new mission to develop artificial general intelligence, reinforced his commitment the open-source movement, expanded on earlier comments that glasses are the ideal form-factor for AI assistants and disclosed metrics on its GPU capacity, suggesting that Meta has AI compute infrastructure that “may be larger than any other individual company”. While direct monetization of gen-AI might be distant, the success with consumer-facing gen-AI apps could have meaningful implications for Meta stock, the firm tells investors in a research note.