Meta Platforms Inc. (NASDAQ: META) has received a significant boost in investor confidence as Jefferies analyst Brent Thill reiterated a “Buy” rating on the stock while raising the price target to $675.
Thill’s bullish stance centers on Meta’s strategic hiring of Clara Shih, the former CEO of AI at Salesforce (NYSE: CRM), and the establishment of its new Business AI group.
According to Thill, Meta’s latest moves reflect its commitment to becoming a frontrunner in the AI revolution, especially in monetizing AI for business applications.
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“Clara’s experience at Salesforce, particularly with building Agentforce, should be highly beneficial as META develops generative AI tools and agents for the over 200 million businesses utilizing WhatsApp, Instagram, and Facebook monthly,” Thill noted.
The analyst sees Meta as a “top AI winner” and believes its pivot into AI-powered business tools positions it strongly for long-term growth.
Meta stock’s technical landscape
Despite the optimism from analysts, Meta’s recent trading performance reflects a mixed picture. Over the past month, the stock has been fluctuating within a relatively wide range of $550.09 to $601.20.
Currently, Meta is trading near the lower end of this range, indicating some consolidation as investors digest recent developments.
From a broader perspective, Meta is trading in the upper portion of its 52-week range, demonstrating resilience despite lagging slightly behind the S&P 500, which is flirting with record highs. Technical analysis reveals reduced volatility, creating a decent setup pattern for traders eyeing potential breakouts.
Support and resistance levels suggest areas of key interest for Meta’s stock movement. A support zone between $554.07 and $557.59 provides a safety net for downside risks, with a Stop Loss order potentially placed below this level.
On the upside, resistance lies between $570.23 and $574.78, a critical zone that Meta shares will need to breach to sustain its upward momentum.
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