Mizuho Lowers Meta Price Target to $815

Mizuho analyst Lloyd Walmsley lowered the price target on Meta Platforms Inc.

(NASDAQ: META) to $815 (from $925) while maintaining an Outperform rating.

“We see shares entering near-term purgatory as management backs away from investment guardrails (consolidated operating income growth), without the magnitude of upside to the core business investors want in exchange for that long leash.

We believe this causes indigestion until we get a more clear path on the cost/capex outlook and/or evidence of more product progress in GenAI from the Meta Superintelligence Labs (MSL) team.

While frustrating, we do not believe it makes sense to negatively capitalize all of these investments and continue to like shares longer-term on a compelling upside/downside skew of +78% // -28%.

We take capex to $115B in ’26E and $145B in ’27E and while EPS comes down to $29.50 / $32 in ’26E / ’27E, we note ’27 includes $5.21/share in Reality Labs losses.

We maintain our OP rating but move PT to $815 (from $925 prior).”

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