Meta Platforms (META) shares rose Thursday after analysts lifted their 澳洲幸运5官方开奖结果体彩网:price targets for the stock, citing positive signals surrounding the tech giant's 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) opportunity.

Analysts said the company's better-than-expected 澳洲幸运5官方开奖结果体彩网:second-quarter results released Wednesday and the early AI gains, eased 澳洲幸运5官方开奖结果体彩网:concerns💜 about Meta's increased spending to invest in the technology.

Meta shares were up 4.5% at $496.05 in recent trading, contributing to the stock's nearly 40% year-to-date gain.

Second-Quarter Strength Eases Investor Worries

UBS analysts said "the most important development" from 澳洲幸运5官方开奖结果体彩网:Meta's earnings call was that it eased lingering uncertainty about the stock after 澳洲幸运5官方开奖结果体彩网:AI spending worried investors after the company's previous quarterly report.

The analysts said that the company's third-quarter outlook indicates that Meta expects a strong second half of the year. They also said that CEO澳洲幸运5官方开奖结果体彩网: Mark Zuckerberg's remarks gave investors more clarity on the company's expectations for AI spending and 澳洲幸运5官方开奖结果体彩网:monetization.

UBS on Thursday lifted its Meta price t🍬arget to $﷽635 from $630.

Meta told investors that its AI tech is improving its recommendation engines, offering early indicators that its significant 澳洲幸运5官方开奖结果体彩网:capital expenditures (CapEx) in that direction are benefiting the company.

The company lifted th🦂e lower end of its outlook for full-year spending to $37 billion from $35 billion and✱ said increased CapEx is expected in the next year.

Bank of America Securities analysts said that Meta's "solid quarter and outlook suggest durable AI advantages."

BofA, which calls Meta the "top AI play in consumer Internet," raised its price target on the stock to $563 from $550.