Loop Capital analyst Alan Gould raised the price target on Meta Platforms Inc. (NASDAQ: META) to $980.00 (from $888.00) while maintaining a Buy rating.

The analyst comments "The meaningful revenue growth acceleration and strong outlook from Meta was the biggest positive surprise of mega-cap earnings in our view (so far, Nvidia pending). Most press reports position Meta’s recent hiring spree and capex expansion as an effort to “catch up”, but business results reinforce our view that the company is the largest non-hardware beneficiary. Acceleration in both user engagement and monetization is being driven by AI investment against what appears to be a very long runway. Efforts like business AIs, personal AI assistants, wearables, open-source models, etc. are each very meaningful long-term opportunities. We think Meta’s user reach and frequency, ability to invest and management’s execution track record will drive the stock’s earnings multiple toward the other mega-cap tech elite. We are raising estimates and increasing our PT to $980 from $888 previous while keeping our target valuation unchanged at 30X 2026 GAAP earnings, plus cash. Reiterate Buy."