Truist lowered the firm’s price target on Meta Platforms (META) to $700 from $770 but keeps a Buy rating on the shares ahead of its Q1 results. The firm is lowering its growth estimates on the impact of tariffs, particularly on Chinese DTC imports and on a softening U.S. consumer, the analyst tells investors in a research note. Meta’s AI investments continue to drive better ranking and recommendation results for users/advertisers however, fueling above industry ad spending on Meta, the firm adds.
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