Meta Called a 'Top Pick' by Citi Analysts on Digital Ad Strength

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Citi analysts called Meta Platforms (META) a “top pick” Tuesday, after the social media giant showcased its strength in digital advertising at the Cannes Lions International Festival of Creativity.

The Facebook and Instagram parent “was among the best platform[s] to target specific audiences,” Citi said, citing its meetings with stakeholders across the ad sector. Citi raised its price target to $803 from $690, well above the Visible Alpha analyst consensus of about $715.

Shares of Meta rose close to 2% near $711 in recent trading, giving Citi’s target a roughly 13% premium. The stock has gained about 22% year-to-date, making it the best-performing member of the "Magnificent Seven" stocks in 2025 so far.

Meanwhile, Jefferies analysts reiterated a price target of $790 after the event. The analysts highlighted Meta’s new AI advertising tool that allows marketers to generate video ads for Facebook or Instagram using a series of static images.

Also featured at the event were Meta’s AI-powered Ray-Ban glasses, which Citi said “creates a significant opportunity for Meta.”

“We are increasingly of the view that glasses are a core AI device,” the bank said. Last week, Meta unveiled its latest AI glasses collaboration, this time with Oakley.

Citi Research. "North America Internet: Digital Postcard from Cannes: Preparing for Agents Amid a Healthy Online Ads Macro with CTV, Retail Media, & Social Tailwinds."

Jefferies. "Cannes 2025: Creative Disruption in the AI Era."