Meta Platforms price target raised to $525 from $475 at BMO Capital

BMO Capital raised the firm’s price target on Meta Platforms to $525 from $475 and keeps a Market Perform rating on the shares. The firm is adjusting its model to reflect the outsized near-term contributions from Political ad spending as well as regulatory TikTok uncertainty, the analyst tells investors in a research note. BMO warns however that its expert ad channel checks indicate that Meta’s 1x revenue tailwinds are fading while the CPG/Leisure verticals are weakening, also noting that its own forecasts for FY25 capex for the company are at $50B vs. $46B for the Street.