Meta Platforms Inc. (META) PT Raised to $590 at Stifel

Stifel analyst Mark Kelley raised the price target on Meta Platforms Inc. (NASDAQ: META) to $590.00 (from $550.00) while maintaining a Buy rating.

The analyst comments "META delivered a solid beat across the board in 2Q (all geos better), with a better 3Q revenue outlook (mdpt. implies +650bps 2-year stack acceleration), with "healthy global advertising demand" on the platform. Total expenses for the full year remain intact, but the lower end of the Capex outlook was revised higher (only real wrinkle in our view). Much time was spent on AI across the product suite, with positive Meta AI engagement highlighted (on track to be most widely used AI assistant by year-end), Llama 4 development in process (next year launch), and continued positive engagement trends in the background. It's hard to deny the increase in Capex is material, but we believe Meta's AI initiatives are paying off already (better engagement, advertiser tools driving incremental budgets), with more to come (positive Llama feedback, messaging monetization, etc.). We reiterate our Buy rating and our TP goes to $590."

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