Jefferies lowered the firm’s price target on Meta Platforms (META) to $910 from $950 and keeps a Buy rating on the shares. Meta delivered a “strong Q3 beat,” but this was overshadowed by investment cycle pressure, the analyst tells investors. Meta raised its FY25 capex guidance to $70B-$72B, up $2B at the midpoint and implying a $33B-$35B year-over-year increase for FY25, says the analyst, who also noted that the company said it expects the FY26 capex absolute dollar increase to be notably higher than in FY25.
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