Bank of America Raises $META Price Target to $845 From $810 as Analysts Turn More Bullish After Q3 Beat

Bank of America raised its $META price target to $845 from $810 and kept its buy rating, implying roughly 21% upside, according to TheStreet. The bank pointed to strong revenue growth driven by AI improvements in Meta's core advertising business, and said growing visibility into AI monetization in 2027 should boost confidence in returns on spending. It also flagged expense increases, potential capital raises, Google's agentic AI launch and OpenAI's advertising ramp as risks.
JPMorgan lifted its target to $940 from $920 and UBS moved to $892 from $884, both keeping bullish ratings. Wells Fargo trimmed its target slightly while keeping an overweight rating. MarketBeat puts the consensus at moderate buy, with an average target of $815.92. At least 13 analysts raised their targets after the report, yet the stock still fell sharply by midday on October 22.
In the third quarter, Meta's revenue rose 26% year-over-year to $64.6 billion, beating expectations, and the company guided to $73 billion to $76 billion for the fourth quarter. Earnings were $3.83 per share after a $9.89 billion legal charge tied to a settlement with 52 state attorneys general, or $7.40 per share excluding the charge. Ad impressions rose 10% and the average price per ad climbed 14%.
Meta narrowed its 2026 capital spending forecast to $135 billion to $145 billion. A New Mexico judge also ordered Meta on October 21 to pay the state $25 billion after a jury found it misled consumers about privacy on Facebook, and the company plans to appeal.