RBC Capital lowered the firm’s price target on Meta Platforms (META) to $810 from $840 and keeps an Outperform rating on the shares. The company’s Q3 print was challenging with a slightly softer Q4 guide, a big raise to the FY26 opex/capex outlook, and an AI product narrative that still screens largely unproven for many investors, the analyst tells investors in a research note. The positive spin however is that AI’s effect on core growth is more durable and underappreciated, and that the company’s incremental surface opportunities will start to monetize sooner rather than later, RBC adds.
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