Rosenblatt Lowers Meta Price Target to $883
Rosenblatt analyst Barton Crockett lowered the price target on Meta Platforms Inc.
(NASDAQ: META) to $883 while maintaining a Buy rating.
“Meta’s 2Q26 results — on a core basis excluding nonrecurring costs — we thought were fine.
Yet, with the shares indicating down ~7%+ after-hours, skepticism is rampant, in part due to a head-fake on cloud deals (a 7/17 NYT report of talks with Anthropic for a $10B/2-yr compute deal with nothing announced).
Our estimates for very healthy revenue and EBITDA growth (and slight FCF burn) are little changed.
Yet the valuation pressure on comparables, including Alphabet, prompts us to reduce the presumed multiple Meta can achieve to a meaningful discount to the multiple that we see as supported by growth.
We retain our BUY rating, but reduce our PT 13% to $883, on a presumed 15x EV/EBITDA multiple vs. 2026E (versus 17x formerly), a meaningful discount to Adj.
EBITDA growth we see at an over 20% CAGR, and a discount to the 17x EV/EBITDA multiple we see for Alphabet.”
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