Evercore ISI Raises Meta Price Target to $930

Evercore ISI analyst Mark Mahaney raised the price target on Meta (NASDAQ: META) to $930.00 (from $900.00) while maintaining an Outperform rating.

“Reiterate Outperform: Over the last two years, Meta has decisively proven that it can effectively deploy AI to materially improve its customer experience – for both consumers and advertisers.

Now the question is whether it can become one of the leading superintelligence companies. Management views this as a generational opportunity, and we think they’re probably right.

While the company is currently trailing AI market leaders and seems far behind on what is probably the largest near-term AI TAM (AI coding tools for the enterprise), we still think Meta is pursuing the opportunity from a position of strength given a unique collection of assets (the social graph, deep personal data, a superscaled messaging platform and a strong position in new device form factors and user interfaces that could take on new importance in the agentic era) plus an abundance of the three C’s of AI (capital, compute and craniums).

Even if the option value doesn’t play out, we still think there’s plenty of growth opportunity to play for in core Meta (more recommendation and conversion wins at Instagram and Facebook, plus Threads, Marketplace, Whatsapp…).

So you don’t have to be a META Superintelligence Bull to buy the stock. Especially at a very reasonable 19x/17x FY26/27 P/E. What could the re-rating catalyst be?

We’re on the lookout for: a) signs of expense and CapEx growth moderation and/or b) additional significant Superintelligence proof points on the heels of the Muse Spark launch.”

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.