Truist lowered the firm’s price target on Meta Platforms (META) to $840 from $900 and keeps a Buy rating on the shares. The company reported stronger-than-expected Q1 results with an in-line Q2 guide, reflecting robust ad demand fueled by AI improvements across ad recommendations, monetization, and user engagement, the analyst tells investors in a research note. Meta management continues to lean into CapEx however, raising it to $125B-$145B for FY26 on tangible near-term benefits of greater user engagement and higher ad conversion, the firm added.
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