Citi maintains a Buy rating on Meta with an $800 price target, banking on the September 23 Connect event to prove that heavy AI investment is successfully boosting core advertising performance.
Citi has reiterated a Buy rating on Meta Platforms, setting an $800 price target and initiating a 90-day upside catalyst watch. Analysts expect the upcoming Connect event to showcase AI advancements that validate the company's massive infrastructure spending and drive future advertising revenue growth.
The event is expected to provide tangible proof that Meta's aggressive AI spending is translating into improved advertising revenue and product efficiency, which is critical for justifying the company's high capital expenditure.