Meta Platforms price target lowered to $760 from $855 at KeyBanc

KeyBanc lowered the firm’s price target on Meta Platforms (META) to $760 from $855 to reflect a more conservative multiple amid market volatility, while keeping an Overweight rating on the shares. The firm says Meta’s unveiling of Muse Spark showed Meta Superintelligence Labs has made meaningful progress over a 9-month period, and provides a look at Meta’s vision of consumer AI. Coupled with practical AI applications for Manus integrations and progress with ranking models, KeyBanc believes the market is under-appreciating platform stickiness for consumers and advertisers. Further, recent ad checks leave the firm more confident in a 20%-plus medium-term growth algorithm.