META YTD mountain Meta shares YTD Meta shares have already doubled this year and are 125% higher as the likelihood of a pause in interest rate hikes buoy the outlook for mega-cap tech stocks.
The analyst's $310 price target, raised from $270, implies 14% upside from Tuesday's closing price of $271.32.
Meanwhile, Meta's AI strategy is helping increase the time users spend on its platforms, improving its suite of tools for advertisers and building out an AI ecosystem.
Piper Sandler was not the only Wall Street firm hiking its price target on Meta.
Wolfe Research on Tuesday also raised its price target to $330, from $300, implying Meta can rise 21% from Tuesday's close.
Persons:
Piper Sandler, Thomas Champion, Wolfe, Deepak Mathivanan, Michael Bloom
Organizations:
Meta, Wolfe Research
Locations:
Tuesday's