"Bernstein lowered the firm's price target on Platforms (META) to $850 from $900 and keeps an Outperform rating on the shares following quarterly results."
"The firm allocates a lower multiple due to the unclear AI product progress and slightly soft Q2 revenue guidance."
"Bernstein considers Meta primarily a digital advertising business and benchmark valuation to comparable peers in this industry set."
Bernstein has reduced the price target for Meta Platforms (META) from $900 to $850, maintaining an Outperform rating. The adjustment is attributed to uncertainties regarding AI product progress and slightly weaker revenue guidance for Q2. Bernstein views Meta primarily as a digital advertising company and bases its valuation on comparisons with peers in the industry.
Read at TipRanks Financial
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