Meta Platforms price target lowered to $780 from $805 at Stifel

Stifel analyst Mark Kelley lowered the firm’s price target on Meta Platforms (META) to $780 from $805 and keeps a Buy rating on the shares. Solid revenue and GAAP EPS results came in ahead of expectations, but this is being overshadowed by more capex, the analyst tells investors. Meta management continues to highlight its grand picture of the future via Superintelligence, though the firm believes “having a publicly announced model out of MSL is a good start for helping investors wrap their heads around where dollars pay off long-term.”