BofA says Meta Platforms valuation attractive following release of new LLM

BofA analyst Justin Post reiterated a Buy rating and $885 price target on Meta shares following the introduction of the inaugural large language model, or LLM, from Meta Superintelligence Labs, Muse Spark. The firm noted that the model launch was ahead of prior press reports and should help enhance Meta’s AI capabilities/positioning. BofA sees the current valuation as attractive given a large AI opportunity, above industry ad growth and strong financial position for AI, the firm told investors in a research note.