As Wall Street analysts signal an imminent reversal for Meta Platforms, Inc. (NASDAQ: META), the company has received bullish forecasts from Bank of America Corp. (NYSE: BAC) and Citizens Financial Group, Inc. (NYSE: CFG)
Andrew Boone, an analyst at Citizens JMP Securities, maintained a positive ‘Market Outperform’ for Meta stock, according to a note to clients on July 10. Although Boone reiterated a Buy rating for Mera stock, he cut his 12-month price target from $825 to $800.
This analyst believes that the company could spend more on AI infrastructure – including data centers and chips – than expected.
“We are lowering our price target to $800 from $825 based on our expectations for greater CapEx,” Boone argued.
On Friday, Justin Post from Bank of America reiterated a Buy rating for Meta shares. Post also maintained a 12-month price target of $835 for the company.
Bofa analysts argued that the company is investing in an AI buildout by developing a custom silicon chip to add 14 GW of total compute capacity over 2026 and 2027. Meta has already deployed 1 GW of capacity in 2026 and plans to bring another 5.5 GW online in the second half of the year.
As such, Post noted that the company’s 2026 cost per GW, at around $22 billion, is below its estimate of $45 billion per GW. Furthemore, Meta’s 6.5 GW of 2026 capacity growth is significantly higher than BofA’s 2.6 GW.
Meta stock forecast 2026 and performance
Following Friday’s Meta stock price forecast updates, 40 Wall Street analysts have set an average 12-month price target of $817.15, according to data from TipRanks. Ahead of the July 29, 2026 Meta stock earnings, Wall Street analysts have signaled a strong buy.
As such, analysts are bullish on Meta shares in the second half of 2026, despite the correction recorded in the first half. Notably, META shares have surged by 10% over the past 30 days despite a 4.33% drop, trading at around $631.48 at the time of reporting.
If the company attracts more AI-focused investments, a potential bull rally could occur over the coming 12 months.
