Baird boosts Meta's PT to $740, citing messaging revenue potential, with $40-50 bln estimated by 2030 and a 23% YTD stock rise.

• Baird raises Meta's price target to $740, 3% above last close, maintaining 'outperform' rating.
• Clicks to message ads projected to generate $15-20 bln annually, driving Meta's revenue growth.
• WhatsApp ads and subscriptions could add $10-20 bln, boosting messaging revenue to $40-50 bln by 2030.