Cantor Fitzgerald Maintains Overweight on Meta, $920 Price Target

Cantor Fitzgerald analyst Deepak Mathivanan reiterated an Overweight rating and $920 price target on Meta Platforms Inc.

(NASDAQ: META).

“FTC vs. META: This case centers on META’s acquisitions of IG and WA, which regulators argue were designed to neutralize competitive threats and cement the company’s dominance in social networking.

After the suit was filed in Dec ’20 and an initial dismissal in Jun ’21, the FTC refiled with expanded evidence. Judge Boasberg later denied META’s motion to dismiss the case in Nov ’24.

The bench trial began in Apr ’25, during which the FTC pressed for structural remedies (i.e., divesting IG / WA), while META argued against a breakup and suggested behavioral alternatives like interoperability and data-sharing commitments.

The trial concluded in May ’25, and a final decision is expected in 2H25E.”

“EC vs.

META (DMA): The European Commission (EC) fined META EUR 200m in April ’25 for the company’s “pay-or-consent” advertising model (launched Nov ’23) – which forced users to either accept data tracking for personalized ads or pay for an ad-free service, without offering a lesspersonalized free alternative.

META has formally appealed the decision as “incorrect and unlawful.” META introduced a revised model in Nov ’24 with less personal data use, but as of now, the Commission continues to evaluate its compliance – warning that failure to meet DMA requirements could lead to daily fines up to 5% of global turnover starting from 6/27/25, though such penalties have yet to be imposed.

Looking ahead, we expect the EC to rule on the revised model by the end of 2025.”

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