Meta stock rises as Stifel reiterates Buy rating on new AI glasses lineup

Investing.com - Meta Platforms Inc. (NASDAQ:META), now a $1.95 trillion market cap company with impressive 82% gross profit margins, maintained its Buy rating from Stifel, which reiterated its $900.00 price target following Meta’s Annual Connect conference keynote on September 17. According to InvestingPro data, the company is trading near its 52-week high of $796.25.

The conference showcased Meta’s new lineup of AI glasses, including the next generation of Meta Ray-Ban, Oakley Meta Vanguard, and a new product called Meta RayBan Display featuring in-lens display overlay and an interactive neural interface.

Stifel highlighted the $799 price point for the RayBan Display as "wildly attainable" considering the technology incorporated into the product, despite some issues during the live demonstration.

The keynote also revealed updates to Meta’s Horizon ecosystem, adding agentic capabilities to Horizon Studio and introducing a new Horizon Engine. Television content is coming to the Horizon platform with Disney, Amazon, and Universal announced as anchor partners.

Meta’s approach suggests the company may be bypassing traditional connected TV (CTV) in favor of a virtual TV strategy for its long-term television plans, according to Stifel’s analysis.

In other recent news, Meta Platforms Inc. has been the subject of various analyst ratings and strategic developments. Meta’s recent Connect event highlighted the launch of new AI smart glasses, which have garnered attention from several investment firms. Truist Securities reiterated its Buy rating on Meta, setting a price target of $880, while Citi maintained a similar rating with a target of $915, expressing optimism about the company’s AI initiatives. Additionally, Citizens JMP upheld a Market Outperform rating with a $900 price target, focusing on the importance of creative content quality for the platform’s success.

Bank of America Securities also maintained its Buy rating and a $900 price target, highlighting the debut of Meta’s new Ray-Ban Display glasses with advanced display technology and gesture navigation. Beyond product launches, Meta is reportedly in discussions with major media firms like Axel Springer and News Corp to license news content for its AI products, according to a Wall Street Journal report. These developments suggest a continued focus on AI and content integration, with analysts generally expressing positive long-term growth prospects for Meta.

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