Analyst Justin Post from Bank of America Securities maintained a Buy rating on Meta Platforms and keeping the price target at $900.00.
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Justin Post has given his Buy rating due to a combination of factors surrounding Meta Platforms’ upcoming innovations and strategic developments. The company is poised to showcase significant advancements at its annual Connect Developer Conference, particularly in the areas of smart glasses and artificial intelligence. The anticipated launch of the Hypernova smart glasses, which include a visual display and are priced to appeal to both early adopters and mainstream consumers, is expected to drive momentum in the wearable technology sector.
Additionally, Meta’s introduction of a new developer toolkit for smart glasses aims to broaden their application beyond current uses, potentially expanding the ecosystem with third-party apps. The company is also likely to highlight advancements in AI, with new features that enhance user experiences and support business functions. These developments, coupled with updates on next-generation holographic glasses and enhanced Ray-Ban smart glasses, underscore Meta’s long-term hardware roadmap and innovation strategy, justifying the Buy rating.
In another report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $920.00 price target.