Meta Platforms price target raised to $800 from $640 at Benchmark

Benchmark analyst Mark Zgutowicz raised the firm’s price target on Meta Platforms (META) to $800 from $640 and keeps a Buy rating on the shares. In terms of Q2 results and guidance, the firm expects “stable top-line” results considering relatively steady e-commerce trends and continued U.S. and Canada ad pricing leverage, the analyst tells investors in a preview. The firm, which adds that Zuckerberg’s recent pledge of “hundreds of billions of dollars” in AI infrastructure and several recent top AI researcher hires will “certainly be topical on its 2Q earnings call,” expects Meta’s 2025 capex guidance to be maintained and opex guidance to be “tightened a bit higher.”