Meta Platforms price target lowered to $520 from $550 at Barclays

Barclays lowered the firm’s price target on Meta Platforms to $520 from $550 and keeps an Overweight rating on the shares following the Q1 report. The analyst “would let the dust settle on the tone shift here before adding to positions,” but says it didn’t hear anything on earnings call “that causes major concern.” The company’s $50B in artificial intelligence related capex has a little less visible revenue alignment than companies like Microsoft (MSFT” or OpenAI, “but it’s there nonetheless and Zuckerberg is going for it,” the analyst tells investors in a research note.