Piper Sandler lowered the firm’s price target on Meta Platforms (META) to $840 from $880 and keeps an Overweight rating on the shares. The firm notes the company reported a strong print and Q4 guidance, but shares are off after hours with 2026 commentary now suggesting materially larger capex / opex growth in 2026 than 2025. Q4 revenue and EBITDA were 4% and 8% above expectations, a bit below 7% and 12% last quarter. Topline growth is impressive at +26% year-over-year and CEO Zuckerberg remains focused on the AI roadmap, Piper adds. Admittedly, expense investments will be significant next year, but the firm would scoop up shares on the dip.
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