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Meta Platforms price target raised to $775 from $765 at BofA

BofA analyst Justin Post raised the firm’s price target on Meta Platforms (META) to $775 from $765 and keeps a Buy rating on the shares. The company posted in Threads that is building several multi-gigawatt data centers expected to come online in 2026, the analyst tells investors in a research note. BofA views the comments as a sign of confidence in Meta’s revenue trajectory. In addition, the firm’s advertising channel checks show improving ad spend since April. It increased revenue estimates to reflect an improved macro environment and the company’s ad stack improvements. The analyst cites higher growth from Meta’s artificial intelligence driven ad improvements for the target bump.

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