JMP Securities raised the firm’s price target on Meta Platforms to $635 from $550 and keeps an Outperform rating on the shares. Meta is at the forefront of a new compute platform, the analyst tells investors in a research note following Meta Connect, Meta’s annual developer conference, where the company showcased a prototype of its holographic, AI-enabled Orion glasses. The firm says Orion represents Meta’s evolution from a social media company to a Metaverse company as its 2021 name change signified.
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