Meta Platforms price target lowered to $695 from $900 at Loop Capital

Loop Capital lowered the firm’s price target on Meta Platforms (META) to $695 from $900 and keeps a Buy rating on the shares ahead of its Q1 results this week. The firm anticipates solid earnings but a “softer” outlook, noting that ad pricing has been falling as Chinese cross-border advertisers cut back on marketing to U.S. consumers amidst closing of the de minimus exemption and tariffs, the analyst tells investors in a research note. Besides this immediate shock to advertiser demand and bidding intensity, conversion rates, click-throughs and other consumer demand signals have also been softening, and while performance marketers do not appear to have meaningfully pulled back yet, they will eventually be forced to if weak conversion trends continue, Loop adds.