Meta Platforms price target raised to $575 from $550 at Loop Capital

Loop Capital raised the firm’s price target on Meta Platforms (META) to $575 from $550 and keeps a Buy rating on the shares following last week’s beat and raise report. Meta was the fastest growing of the major ad platforms to have reported Q2 results, exceeding Amazon (AMZN) Ads for the second consecutive quarter, the analyst tells investors in a research note. Meta continues to deliver superior growth despite its greater revenue scale and Loop is increasingly optimistic about the company’s expanding opportunity set as it deploys more genAI applications across its massive base of users.