BofA Securities Affirms Buy on Meta, $810 PT
BofA Securities analyst Justin Post reiterated a Buy rating and $810 price target on Meta Platforms Inc. (NASDAQ: META).
“Meta announced the formation of Meta Enterprise Platform, a new business unit focused on bringing the company’s AI capabilities to enterprise customers and developers.
CEO Mark Zuckerberg described the initiative as the next major pillar of Meta’s business.
The initial offering will span the Muse agent, Meta Business Agent, Muse API and Muse Code, leveraging Meta’s advanced models, agent capabilities and large-scale infrastructure.
Meta has hired MongoDB CEO Chirantan CJ Desai to lead the initiative as Chief Enterprise Platform Officer, and we think he would be focused on driving product sales.
Our Take: While not unexpected, Meta’s Enterprise AI solutions launch could introduce a more durable, less macro-sensitive monetization revenue stream for Meta.
The enterprise AI solutions market, including cloud capacity, is expected to exceed $1trn by 2028, and we think Meta’s consumer data and communications apps could give Meta’s advantages for AI enterprise sales to consumer focused companies.
We would expect distribution of Meta’s model APIs on leading hyperscaler platforms. Maintain Buy.”
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