After Meta (META) reported stronger-than-expected first-quarter results and provided Q2 guidance that also beat analysts' average estimates, Truist, a U.S. bank, raised its price target on the name to $720 from $700. Truist kept a Buy rating on META. Why Truist Is Bullish on META The performance of Meta's ads has been boosted by AI, with the technology increasing the conversion rates and prices of the tech giant's ads, Truist reported. What's more, Meta is essential for some advertisers, Truist believes. Meanwhile, Meta's AI system, Llama 4, is enabling the company to provide more services and enhancing its e-commerce offerings, Truist reported. Finally, Truist is impressed by the company's user metrics. An Investment Bank Hiked Its Price Target on META Investment bank Stifel increased its price target on the name to $655 from $628 while keeping a Buy rating on the shares.