Meta Platforms Inc. (META) PT Lowered to $500 at Baird

Baird analyst Colin Sebastian lowered the price target on Meta Platforms Inc. (NASDAQ: META) to $500.00 (from $525.00) while maintaining a Outperform rating.

The analyst commented: "While we previewed the potentially increasing AI expenses for larger platforms, including Meta, investors were caught off guard by higher capex, exacerbated by slightly softer Q2 revenue guide. As such, shares are entering the "penalty box", but with reactions to these prints typically overdone, we remain constructive on pullbacks. Meta’s report reminds us that sustaining growth through innovation requires investment cycles; and in our view, it would be foolish for Zuck & Co. to ignore meaningful opportunities created by technology shifts for the sake of shorter-term financial outcomes."

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