Meta Platforms price target raised to $665 from $600 at Guggenheim

Guggenheim raised the firm’s price target on Meta Platforms to $665 from $600 and keeps a Buy rating on the shares ahead of the company reporting Q3 earnings Wednesday, October 30. The firm expects investor focus to be on the advertising-driven revenue outlook for Q4, where its forecast at $47.0B compares to consensus at $46.2B; possible 2025 expense and capex guidance should the company follow its Q3 outlook precedent; and updated views on return on AI investment. The firm believes Meta remains the top destination for incremental ad dollars, as supported by recent channel checks and industry-wide data trends in Q3, the analyst tells investors in a preview.