Wells Fargo lifts Meta Platforms price target to $1,000, maintains overweight rating
Wells Fargo increased its 12‑month price target for Meta Platforms to $1,000, up from $796, and kept an overweight recommendation. The target was announced on October 6, 2026, when the stock traded around $742 in pre‑market activity. Analysts note the firm expects Meta to allocate 500 MW of computing power for AI, which would cut its 2027 revenue outlook by $5 billion. The higher target implies roughly a 38% upside from the current price.
Why it matters
Wells Fargo’s revised target suggests a sizable upside for investors, but the firm also warns that the AI‑related capacity commitment could lower 2027 revenue by $5 billion, potentially offsetting some of the upside.
Key facts
- 1Wells Fargo raised Meta’s price target to $1,000 from $796. marketscreener.com
- 2The analyst kept an overweight rating on the stock. marketscreener.com
- 3Meta was trading at $741.90 in pre‑market quotes on October 6, 2026. marketscreener.com
- 4Wells Fargo estimates Meta will set aside 500 megawatts of AI computing capacity, reducing its 2027 revenue forecast by $5 billion. gurufocus.com
- 5The new target implies about a 38% upside from the current price. gurufocus.com
- 6Meta reported a 28% revenue increase to $60.8 billion in Q2 2026. theglobeandmail.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.