Meta Platforms price target lowered to $820 from $885 at BofA

BofA lowered the firm’s price target on Meta Platforms (META) to $820 from $885 and keeps a Buy rating on the shares. Checks suggest Q1 ad spending broadly in line with advertiser expectations, with no material spending pullbacks on the Middle East conflict, says the analyst, who estimates Q1 revenue and EPS of $56.0B and $7.44 versus the Street at $55.4B and $6.64, respectively.