Meta Platforms (META) PT Raised to $860 at Cantor Fitzgerald on AI Capability Advances

Cantor Fitzgerald analyst Deepak Mathivanan raised the price target on Meta Platforms Inc. (NASDAQ: META) to $860.00 (from $680.00) while maintaining a Overweight rating.

The analyst commented, "As AI capabilities continue to advance, we think personal agents have the potential to emerge as the third S-curve in AI. META, in our view, is well positioned to be a leading beneficiary of this theme with a competitive model that is specifically trained to lead in agentic tasks, a strong harness with a differentiated UX in Muse, and a massive compute infrastructure that can help META scale personal agents rapidly into its user base ahead of competition. We believe the unit economics of Muse are being subsidized in the early days, but we think META has several paths to a profitable freemium model. We reiterate our Overweight rating, and raise our PT to $860 (vs. $680 previously)."

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