Meta Platforms price target raised to $775 from $686 at Argus

Argus raised the firm’s price target on Meta Platforms (META) to $775 from $686 and keeps a Buy rating on the shares. The company is benefiting from a reacceleration in advertising revenue, significant margin expansion as a result of deep cost cuts, and robust cash flow, and while the market could well be spooked by the company’s ramping investments in GenAI as it races with Microsoft (MSFT), Alphabet (GOOGL), and others to develop models and actual applications prior to monetization, Meta is already leaning on GenAI to improve targeted advertising, which is one of its critical monetization features, the analyst tells investors in a research note.