Meta Platforms price target lowered to $500 from $585 at Oppenheimer

Oppenheimer lowered the firm’s price target on Meta Platforms to $500 from $585 and keeps an Outperform rating on the shares following quarterly results. CEO Zuckerberg now believes Meta can become “the leading AI company in the world,” underpinning higher opex/capex guidance. The firm says ad outlook seems healthy, and expects engagement and ads performance to keep improving, as conversions growing above impressions.