Oppenheimer notes that at Meta Connect, the company launched Quest 3 headset, but more importantly, showcased new AI messaging tools/image generation and an AI assistant. This shows that Meta (META) understands investors want more focus on AI vs. the Metaverse, the firm says. Oppenheimer believes AI messaging/images is a direct shot at Snap (SNAP), raising the bar for interactive messaging, while AI assistant crossing into search with Bing-supported results. Separately, checks suggest stable digital ad market, the firm adds. Oppenheimer reiterates an Outperform rating on Meta with a price target of $385.
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