Raymond James Keeps Strong Buy on Meta, $860 Price Target

Raymond James analyst Josh Beck reiterated a Strong Buy rating and $860 price target on Meta Platforms Inc.

(NASDAQ: META).

“The Call: META reports earnings ahead of other hyperscalers up against high expectations following a 20%+ move since end of August (vs. S&P +0.3%).

While our ad checks (LINK) were upbeat suggesting the ROI on the ad stack remains underappreciated and our AI Training checks (LINK) were also positive with respect to the re-built Meta Super Intelligence (MSL) training stack, we see a fairly neutral setup into the print as out-year expenses and capex on the Street appear too low.

Key swing factors on the call will likely pertain to 1) early 2027 expense and/or capex commentary; 2) perceived duration of ad stack tailwinds; 3) Muse strategic updates including monetization across commerce take rate, subscriptions (e.g., Power, Max plans), and SMB/ enterprise (e.g., Muse for Small Business, Meta Model API, Muse Code)”

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