KeyBanc analyst Justin Patterson lowered the firm’s price target on Meta Platforms to $555 from $575 and keeps an Overweight rating on the shares. The firm says it enters Q1 earnings with some caution as it does not see much thesis changing on prints and sees an upward bias to capex. KeyBanc believes Meta having a wide revenue guidance range around unrest in the Middle East could alarm investors, particularly if Q1’s outperformance moderates.
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