TD Cowen analyst John Blackledge lowered the firm’s price target on Meta Platforms (META) to $800 from $820 and keeps a Buy rating on the shares. The company’s advertising revenue had another big quarter in Q1, but Meta upped its capex guidance, the analyst tells investors in a research note. The firm says Meta shares are down 7% on the higher capex guide and Q2 revenue outlook, which was slightly above consensus at the high end.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on META:
- Cowen’s Blackledge Maintains Buy on Meta After Q1 Beat, Lowers Price Target to $800 Amid Higher AI Capex Plans
- Meta Stock (META) Tumbles 7% after Q1 Earnings — What Spooked Investors? Here’s What Top Analysts Think
- Alecta Pensionsforsakring boosts Meta Platforms stake by 450k
- Amazon Stock (AMZN) Gains 3% Post Q1 Earnings — What’s Driving the Rally? Top Evercore Analyst Weighs In
- META Earnings: Meta Platforms Stock Sinks as AI Capital Expenditures Raised to $145 Billion