Benchmark Raises Meta Price Target to $890

Benchmark analyst Mark Zgutowicz raised the price target on Meta Platforms Inc.

(NASDAQ: META) to $890 (from $800) while maintaining a Buy rating.

“META’s 2Q print delivered the top and bottom-line octane necessary to whiz past management’s assertive ‘26E opex and capex outlook.

Since the start of the year, we have nearly doubled our ‘25E revenue growth to 20%, translating to an incremental 100 bps of ‘25E U.S. digital ad share for Meta.

While the past two quarters benefited from core AI investments, another cool $30B capex next year bridges the step up to generative AI and Meta’s mission to lead (own) Artificial Superintelligence development.

While this is the promise, we discuss necessary revenue diversification required to fully exploit and achieve this goal beyond finite global advertising budgets and the same budgets of human social time.

Our estimate revisions detail is also shared below. We maintain our Buy rating and raise our DCF-based PT to $890 from $800.”

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