Meta Platforms (NASDAQ: META) has received a fresh bullish endorsement on Wall Street after Truist Securities reaffirmed its ‘Buy’ rating and maintained an $840 stock price target.
The target implies upside of about 37% from Meta’s press-time price of $612.
The updated outlook comes as the firm argued that Meta remains deeply undervalued, citing the company’s massive global user base and growing ability to monetize artificial intelligence across its ecosystem.
Truist analyst Youssef Squali’s thesis centers on Meta’s unique distribution advantage, which includes more than 3.5 billion daily users, over 200 million small and medium-sized businesses, and more than 10 million advertisers across its platforms.
According to the research note, Meta’s AI strategy is increasingly focused on monetization rather than solely competing in the race for model quality.
Truist highlighted the company’s ability to integrate its AI products across major platforms such as Instagram, WhatsApp, and Messenger, creating what it sees as a competitive advantage that rivals may struggle to replicate.
The firm also pointed to early signs of success from the rollout of its AI initiatives and identified further execution on small-business tools as a potential catalyst for the stock.
Wall Street bullish on Meta stocks
Meanwhile, Truist’s outlook aligns with the broader Wall Street consensus on Meta.
According to data from TipRanks, Meta carries a ‘Strong Buy’ consensus rating based on 38 analyst reviews, including 33 ‘Buy’ ratings, five ‘Hold’ ratings, and no ‘Sell’ recommendations.
The average 12-month Meta stock forecast stands at $818.23, representing potential upside of about 33.6%. Analysts’ targets range from a low of $622.25 to a high of $1,015.
The bullish outlook comes as Meta shares recently climbed above $600, with investors balancing strong advertising growth against the company’s heavy AI spending.
The tech giant reported first-quarter revenue of $56.3 billion, up 33% year-over-year. Despite the strong performance, Meta stock remains down roughly 9% to 12% in 2026 as concerns persist over its aggressive investment in AI infrastructure.
Meta recently raised its 2026 capital expenditure guidance to between $125 billion and $145 billion to support new data centers and AI initiatives, including Meta Superintelligence Labs.
While the increased spending has weighed on near-term sentiment, management still expects operating income growth this year and guided for second-quarter revenue of $58 billion to $61 billion.
