Citizens Analyst Is Bullish on Meta’s AI Progress, But Lowered His Price Target. Here’s Why

Social media giant Meta Platforms (META) has been in the news for its AI announcements, mainly the launch of its first AI model, Muse Spark 1.1, and its in-house AI chip, Iris. Citizens analyst Andrew Boone said that he views the release of Muse Spark 1.1 as a “significant step forward” for Meta to compete directly with frontier AI labs. The 5-star analyst reiterated a Buy rating on META stock but lowered his price target to $800 from $825, citing the tech giant’s significant investments.TipRanks Welcomes a New ETF – NYSE:RANK TipRanks has entered a new arena in the investing world, powering the index of an ETF based on its unique data now trading under the ticker RANK on the NYSE. RANK tracks the performance of the TipRanks US Momentum Analysts Index, a rules-based index of 50 large U.S. companies.

Five-Star Analyst’s Views on Meta’s AI Strategy

Boone believes that the rollout of Muse Spark 1.1 reflects that Meta Platforms’ compute needs might continue to accelerate. He added that while Meta still faces significant execution risk before becoming a frontier AI lab, the announcement of the Meta Model API is a key step, giving the company a path to monetize its infrastructure by selling access to its models.