Meta Platforms price target raised to $835 from $820 at BofA

BofA analyst Justin Post raised the firm’s price target on Meta Platforms (META) to $835 from $820 and keeps a Buy rating on the shares. Meta is investing even more in capacity for AI capabilities and reducing headcount to make room for added expenses, notes the analyst, who adds that this AI investment cycle is proving to be bigger than expected and notes that returns are less clear compared to Cloud providers. However, AI-driven ad gains are intact, says the analyst, who raised revenue by 1% to $101B and EPS by 2% to $34.46 for 2027 following the “strong” Q1 results.