(News Bulletin 247) – Bank of America raised its price target on Meta Platforms on Friday from $300 to $320, while maintaining its buy advice on the stock.
In a research note, the analyst believes that the social media giant may be able to accelerate the already strong growth of its business via the integration of artificial intelligence.
‘With Messenger and WhatsApp, Meta has overcome the most difficult by establishing two of the largest messaging platforms in the world’, recalls the intermediary.
‘The next step will be to increase their capabilities and deepen monetization’, an initiative that should go, according to BofA, through the use of generative artificial intelligence tools.
According to the professional, AI – and large language models (LLM) in particular – is particularly well suited to the format of online discussions by enabling, for example, applications for audience targeting, service- automated customer, online purchase, order taking, personalized advertising or conversion of text into images or videos.
Bank of America says it continues to expect Meta to post growth above its peers this year, not only thanks to its measures aimed at better monetization, but also because of the preference displayed by advertisers for well-designed platforms. established.
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