Cantor Fitzgerald Lowers Meta Price Target to $680

Cantor Fitzgerald analyst Deepak Mathivanan lowered the price target on Meta Platforms Inc.

(NASDAQ: META) to $680 (from $770) while maintaining an Overweight rating.

“Overall, there was a lot to like in META’s 2Q print.

That said, debates on the company’s ability to achieve compelling returns in the M-LT from ongoing capex investments are likely to remain open until we see revenue growth potentially re-accelerate.

We have raised our FY27E revenue by 2% but have lowered EPS/FCF for incremental investments.

We reiterate our Overweight rating, and our new PT of $680 is based on 25x FY27E EPS (vs $770 and 26x FY26E/FY27E, previously).”

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