Mark Zuckerberg, Facebook CEO, speaks on stage at the Oculus developers conference 2016. Glenn Chapmann/AFP via Getty ImagesBofA stated that Facebook's plans to create a "metaverse", will boost its stock price.BofA raised its price target from $425 to $425 following the earnings of Facebook, which is 18% more than Wednesday's close.BofA applauded Facebook's efforts to create a metaverse by investing in VR, creators and commerce.Subscribe to our daily newsletter 10 Things Before The Opening Bell.Bank of America said that Facebook's plans to create a virtual world, or "metaverse", will boost its profits and stock price.A team of BofA analysts, led by Justin Post, raised their 2021 price target from $425 to reflect Facebook's second quarter earnings. This is an 18% increase over Wednesday's close.Analysts highlighted the fact that Facebook is investing heavily into projects that will create an impressive "metaverse," online.It's a virtual space where you can interact with others in digital spaces. This can be viewed as an embodied web that you are inside, rather than just looking at," Zuckerberg stated during Facebook's earnings call.Facebook has made investments in creators, through tools such as Reels, Bulletin and Live Audio, where users can create and consume content. The tech giant also invests in commerce through Shops and Marketplaces. BofA stated that Facebook is also investing in VR computing platforms, with Quest 2 generally performing well."These efforts are part a larger goal to create a virtual environment – a metaverse. BofA stated that FB has already invested billions in Oculus, and other AR/VR initiatives. This makes current core margins even more impressive."Bofa analysts reiterated their "buy” rating for the stock. They also increased expectations for Facebook's 2022 earnings, after the tech giant exceeded expectations in the second quarter.Facebook shares were down 3% by mid-morning on Thursday
