Citi Reiterates Buy Rating on Meta, Sets $800 Price Target Ahead of Meta Connect

Citi: Citi is a major global bank that provides investment banking, research, and financial services. It recently reiterated its Buy rating on Meta with a positive outlook ahead of product announcements. The firm positions Meta as one of its top picks in the internet sector based on AI developments. Meta: Meta Platforms develops social media platforms and AI technologies. It is preparing to share updates on its AI product strategy at an upcoming event. Newer AI offerings are expected to support higher engagement and monetization as infrastructure expands. Muse: Muse is an AI application developed by Meta. It has seen app downloads exceed those of Instagram and Facebook on multiple recent days. Muse is highlighted as a key element in Meta's evolving AI product lineup. Watermelon: Watermelon is the internal codename for Meta's next foundation model. It is anticipated for potential launch alongside other AI updates. The model is referenced in analysis of Meta's future AI strategy and infrastructure plans. AI Product Updates: Meta is scheduled to provide details on its AI strategy, including specific products and models, at an event later this month. Engagement Outlook: Newer AI products are viewed as drivers of increased user engagement and monetization for Meta over time.