Loop Capital Raises Meta Price Target to $888

Loop Capital analyst Alan Gould raised the price target on Meta Platforms Inc.

(NASDAQ: META) to $888 while maintaining a Buy rating.

“We are raising our forecast on a better than expected 2Q outlook and raising our PT to $888.

While our pre-quarter checks had pointed to resilience, our expectation that a drop in spending intensity from China-based advertisers would flatten revenue growth was a misread.

This large spending cohort has backed off (with some geographic reallocation) but AI-driven performance gains across the platform are more than an offset.

We continue to see Meta as the best non-hardware example of tangible, right-now beneficiary of AI and think the stock will outperform the ‘mag-7’ peer group this year.

The lowering of our target multiple to 25X was a mistake and we are returning to 30X on now a higher EPS outlook.

Despite a meaningful valuation disparity, we still encourage long-term growth managers to move away from Google and into Meta. Reiterate Buy.”

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