Wedbush is adding Meta Platforms (META) to the firm’s Best Ideas List and maintains a price target of $920 on the Outperform-rated stock. Sentiment has eased following Q3 results, with investor caution building around the greater expense and capex trajectory implied by management’s guidance, the firm notes. Following results, Wedbush is encouraged by robust growth in Meta’s core advertising business, positive commentary regarding Meta AI and Superintelligence Labs, and momentum associated with the ongoing rollout of new AI-infused hardware. The firm believes the risk/reward is compelling with limited downside from here following the recent pullback in shares.
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