- Truist Securities raised its Meta price target to $1,000 from $763 and kept a Buy rating, joining Wells Fargo as the highest on the Street.
- Citi lifted its Meta price target to $895 from $800 and reiterated Buy ahead of Q3 earnings.
- Guggenheim raised its Meta price target to $850 from $700, citing higher 2027 estimates and Muse traction.
- Muse reached 1.3 million daily active users within five weeks, according to Guggenheim.
- Meta shares have risen 21% since Muse launched on Sept. 8, against a 2% gain for the S&P 500, per Truist.
- Truist expects Q3 revenue of $63.9 billion, up 25% year over year, at the high end of management's $61 billion to $64 billion guidance.
- Guggenheim raised its 2027 capex forecast for Meta to $225 billion, while Truist forecasts 2027 capex of $190 billion.
- Citi frames Q3 earnings as the next test of whether higher AI investment translates into faster growth.
Quotes
“With AI infusing higher performance across ads, wearables and Muse (building non-ad revenues from powering personal superintelligence, Muse for Enterprise/SMBs), we see Meta as an AI winner long-term”
“Meta's growth [is] increasingly driven by monetization and retention rather than net new users, in our view”