Truist Says Meta Headed to $1,000 — Highest Target on Wall Street

Guggenheim Securities raised its price target for Meta Platforms (META) to $850, citing progress in AI and the potential of its Muse AI agent. Meta scores 56 on the AI Index, close to Anthropic's 58. Guggenheim expects Muse to monetize through business payments, similar to Meta's advertising model, and anticipates increased capital expenditure. META stock was down 3.17% at $738.32 at the time of publication.

Meta's planned data center in Richland Parish will require 4,500 MW of electricity, nearly four times New Orleans' peak demand. Entergy Louisiana CEO Phillip May stated the company will cover infrastructure costs and adjust payments if costs change, addressing critics' concerns about financial risk to other ratepayers.

Meta Platforms introduced two new AI models, Muse Wonder and Muse Wonder Full, scoring 56 on an intelligence benchmark. Bank of America reiterated its 'buy' rating and $810 price target, citing potential revenue growth from enterprise contracts and cloud partnerships. Meta shares rose 6% post-launch.

Meta CEO Mark Zuckerberg revealed the company invested up to $200 billion in AI infrastructure last year, despite uncertainty about success. Meta debuted a new AI model and launched Muse, its AI assistant. Investors remain concerned about Meta's spending and profitability, with earnings due Oct. 21.

Guggenheim raised its price target on Meta Platforms (META) to $850 from $700, citing progress in Muse AI adoption and higher 2027 estimates. Muse reached 1.3 million daily active users in five weeks, though it remains a small fraction of Meta's total users. The analyst expects Muse to generate revenue through business payments, aligning with Meta's advertising model. Guggenheim also increased its 2027 capital expenditure forecast to $225 billion and projects 25% Q3 core advertising growth.

Guggenheim raised its price target for Meta Platforms to $850 from $700. Citigroup also increased its target to $895 from $800. Meta's stock was trading at $762.50, up 2.63% in pre-market.