Rosenblatt Reiterates Buy Rating on Meta, $1,117 Price Target

Rosenblatt analyst Barton Crockett reiterated a Buy rating and $1,117.00 price target on Meta (NASDAQ: META).

“Meta’s announcement this AM of new deals for 6.6GW of nuclear capacity with TerraPower, Oklo and Vistra, in combination with 1.1GW already announced with Consellation Energy, vault Meta to the top of the leader board in hyperscalers going nuclear.

These deals largely commit Meta to PPAs (purchase power agreements) as an anchor buyer, meaning limited capex impact, but giving partners the economic basis to sustain existing plants and raise capital to build new ones.

Of the total 7.7GW envisioned in the new and previous agreements, 3.3GW is from existing plants, and the balance from plants to be built, where permitting processes are a meaningful wildcard.

So there’s no guarantee that the envisioned full power slate will materialize.

Yet this marks a meaningful step towards de-risking the feasibility of Meta’s AI-driven data center ambitions (driving capex in our model up 50% to $108B in 2026E).”

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