Stifel Raises Meta Price Target to $900

Stifel analyst Mark Kelley raised the price target on Meta Platforms Inc.

(NASDAQ: META) to $900 (from $845) while maintaining a Buy rating.

“Meta reported a big 2Q with revenue ahead of the top-end of the guidance range (growth accelerated 235bps at CC), and 3Q revenue guidance that was ahead of consensus.

The low-end of FY25 total expense and capex guidance ranges were lifted, and we’re to expect ’26 total expense growth that exceeds the +22% growth expected this year (mdpt).

Similarly, ’26 capex growth in dollar-terms will likely match ’25 (+$30bn y/y).

In our view, investors are more comfortable with these investment levels as initial AI investments are clearly paying off (Meta AI >1bn MAUs), with more to go as Meta makes the case for superintelligence for the masses.

WhatsApp monetization is off to a good start (>1.5bn DAUs in the updates tab), though monetization will remain measured through 2026 as the company follows its playbook from prior monetization efforts.

We adjust our estimates accordingly and raise our target price to $900.”

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