The emergence of OpenAI's large-language model ChatGPT has spurred investor excitement over AI, helping stocks with direct or perceived exposure to AI soar.
AI stocks led the stock market in the first half of the year, with leading AI chipmaker Nvidia touching a $1 trillion market capitalization in May.
Jefferies maintains a buy rating on Alphabet stock with a $150 per share price target, or about 25% upside from Wednesday's $120.18 close.
The bank has a $280 per share price target on the Facebook parent, or about 2% below Wednesday's $285.29 close.
Thill "believes META is best positioned to take advantage of the AI opportunity vs. social peers TikTok and Snap," the Jefferies report said.
Persons:
Jefferies, isn't, Mark Lipacis, Mark, Bard, Brent Thill, Lloyd Byrne, TikTok
Organizations:
Jefferies Equity Research, Nvidia, Intel, Microsoft, Jefferies, Google, Chevron, . Energy, Facebook