Bank of America: Raises Meta Target Price to $660
2024-11-01 07:28:03
Bank of America Securities report notes meta third quarter revenue win market expectationsdesk3cryptocurrencydesktopCrypto News
Bank of America Securities reported that Meta's revenue beat market expectations in the third quarter, mainly due to the benefit of artificial intelligence (AI) -driven usage and improved advertising targeting, while earnings per share continued to exceed expectations. The bank believes that Meta's AI-driven advertising improvement still has several quarters to develop, seeing its strong growth momentum in 2025, including AI and video-driven usage growth trends, higher return on investment and incremental advertising spending from AI solutions (Advantage +), accelerated monetization of messaging (business messaging, click-to-message advertising), and untapped assets (Meta AI, Threads). The bank raised the group's 2025 earnings per share by 6% to $25.78, revenue by 3% to $188 billion, and the target price accordingly rose from $630 to $660, reaffirming its "buy" rating.
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