Meta Platforms price target raised to $660 from $600 at Argus

Argus analyst Joseph Bonner raised the firm’s price target on Meta Platforms to $660 from $600 and keeps a Buy rating on the shares. Meta is benefiting from a re-acceleration in advertising revenue, “significant margin expansion as a result of deep cost cuts, and robust cash flow,” the analyst tells investors in a research note. The firm says the company has also become competitive in the generative artificial intelligence space. It expects AI to begin to “pervade Meta’s applications to provide another means of optimizing company performance and efficiency.”