UBS Raises Meta Price Target to $915

UBS analyst Stephen Ju raised the price target on Meta Platforms Inc.

(NASDAQ: META) to $915 (from $900) while maintaining a Buy rating.

“The slimmer beat on 4Q25 revenue guide vs expectations is driving some of the drawdown in META shares, but we note that under the hood a revenue timing adjustment on Reality Labs is the reason that the revenue outperformance is not larger.

We instead choose to focus on the fundamentals of the ad business: Instagram crossing 3B MAU, 5% increase in Facebook time spend, 14% YOY impression growth – up 3ppts QOQ, and Reels / AI-powered ad tools (incl.

A+) hit >$50B / >$60B in revenue runrate.

All of these disclosures tell us that Meta is seeing a user base expansion, creating avenues to deliver more impressions across this enlarged user base without diluting the app experience, and lastly growing its wallet share with advertisers.

That being said, a hike in the midpoint of 2025 cost guidance and commentary that suggests higher intensity for 2026 causes us to take up our CapEx and total expense trendlines for 2025 and beyond.

We net out at 2026 / 2027E EPS moving up by ~1% / ~2%, respectively, resulting in our price target moving up 2% to $915.

Although the GenAI build costs sting today, we maintain our Buy rating on META shares given our view that the path to lighting up several new revenue vectors remains clear (Business AI, Search in Meta AI).”

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