Meta Rallies Over 5% as JPMorgan Adds Stock to Analyst Focus List

Meta Platforms shares advanced more than 5% on Monday, touching an intraday high of $644.54, after JPMorgan added the company to its Analyst Focus List. The bank designated Meta and Amazon as its top internet sector picks while removing Alphabet, though it retained an Overweight rating on all three. JPMorgan analyst Doug Anmuth cited Meta's accelerating AI-driven advertising momentum, which rose 26% year-over-year in the third quarter to $63.06 billion, led by a 33% surge in North American ad revenue. The brokerage maintained an Overweight rating on Meta with a $940 price target.