Stifel Lowers Meta Price Target to $875

Stifel analyst Mark Kelley lowered the price target on Meta Platforms Inc.

(NASDAQ: META) to $875 (from $900) while maintaining a Buy rating.

“Meta reported solid 3Q results (rev above high-end of guidance, GAAP EPS beat excl. one-time tax charge), with a slightly better 4Q revenue guide at the mdpt.

We’re to expect ‘notably larger’ capex dollar growth in ’26 (an uptick vs. prior commentary) and ‘significantly faster’ expense growth, driven by infrastructure costs & technical talent hires… while this type of commentary has become standard issue for the hyperscalers, we believe investors are likely to shift back toward more heavily scrutinizing these investments (questioning NT and LT ROIC).

We view Meta as having tangible proof of near-term value (improving core platform engagement & advertiser AI tool adoption), so while these investments may take a bit for investors to fully digest, we remain positive on Meta’s near- and long-term opportunities.

We layer the incremental 2026 commentary into our model and our TP goes to $875; Reiterate Buy.”

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