Meta Platforms price target raised to $675 from $600 at Bernstein

Bernstein raised the firm’s price target on Meta Platforms (META) to $675 from $600 and keeps an Outperform rating on the shares. Shares are up 59% year-to-date and Meta has replaced Google (GOOGL) as the “set-it-and-forget-it” blue chip holding that offers a growing, healthy core business, an AI winner story with lower terminal risk, and a shareholder-friendly management team, the analyst says. The setup through year-end offers a more balanced risk-reward as decent ad buyer checks, higher CPMs, and helpful FX trends are offset by weaker-than-expected ad spending from Temu and Shein, a shorter holiday shopping season, and limited guidance on key 2025 metrics, the firm says.