JPMorgan Lowers Meta Price Target to $640

JPMorgan analyst Doug Anmuth lowered the price target on Meta Platforms Inc.

(NASDAQ: META) to $640 (from $725) while maintaining a Neutral rating.

“Meta shares traded down ~7.5% post-close as visibility into monetizing AI spend beyond advertising remains limited.

2Q revenue growth (+27% FXN) & the 3Q guide (+20%-26% FXN)—while still strong—came in slightly below expectations, but the focus coming out of earnings likely remains on Meta’s ability to prove out returns on heavy AI capex beyond advertising.”

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