Stifel Lowers Meta Price Target to $785

Stifel analyst Mark Kelley lowered the price target on Meta (NASDAQ: META) to $785.00 (from $875.00) while maintaining a Buy rating.

“Despite commentary from our 4Q advertising checks supporting solid 4Q results (particular strength from Instagram Reels), we believe the bulk of investor attention will be centered on ’26 totex / capex (particularly following the “Meta Compute” announcement).

We believe there is some room for totex / capex estimates to tick higher (Stifel ’26 ests +2% / +9% vs. Street) and would be cautious owning this one into the print.

We marginally adjust Reality Labs operating income assumptions to account for recent headcount reductions, and we bring our multiple lower to reflect rejuvenated near-term scrutiny on ROI on AI investments.”

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