Meta Stock Just Scored a New Street-High Price Target. Here's Why.

Meta Platforms (META) stock is extending gains on Oct. 13 as senior Truist analyst Youssef Squali said its ongoing rally is in the early innings only. Squali maintained a “Buy” rating on META this morning and significantly raised his price objective to $1,000, indicating potential for over 30% upside from current levels. 

Meta shares have already been in a sharp uptrend in recent months, currently trading roughly 40% above its price in mid-August.  

Truist’s Bullish View on Meta Stock

According to Squali, his upwardly revised price target bakes in expected contribution from Muse, the company’s recently launched artificial intelligence (AI) agent.

His base case anticipates a whopping $28.5 billion in incremental revenue by the end of this decade. For Meta, this opens a potentially substantial business beyond advertising, including subscriptions and commercial applications, the analyst told clients. 

Truist sees opportunities spanning personal AI assistance, enterprise clients and smaller businesses.

That said, the investment firm sees capital expenditures soaring 32% year-on-year to roughly $190 billion in 2027, suggesting the bull case more broadly depends on META’s ability to turn its costly AI infrastructure into services customers will pay for. 

What Else Could Push META Shares Higher?

META’s existing advertising engine remains central to Squali’s confidence; he expects the giant’s Q3 revenue to grow by 25% year-on-year to $63.9 billion — meaningfully above the $63.3 billion consensus.

Continued adoption of Advantage+ will drive advertising prices, measured by cost per thousand impressions, up by double digits again, according to the analyst. 

“META’s growth [is] increasingly driven by monetization and retention rather than net new users, in our view,” he wrote.

In short, Truist is convinced that Meta Platforms can generate more revenue from its existing users while its newer AI offerings develop additional income streams.

Note that Meta stock currently pays a small dividend yield of 0.28% as well. 

What’s the Consensus Rating on Meta Platforms?

While not nearly as bullish as Truist, other Wall Street firms favor owning META shares heading into 2027 as well. 

The consensus rating on Meta Platforms sits at “Strong Buy,” with the mean price target of roughly $804 indicating the firm’s share price rally is not out of steam just yet. 

On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.