Wells Fargo raises Meta target price to $837 from $811

Wells Fargo raises Meta target price to $837 from $811

Wells Fargo & Company has revised its price target for Meta Platforms, Inc. (NASDAQ: META) upward to $837, a significant increase from its previous target of $811. This move reflects the financial services giant's optimistic outlook on the social media and technology company's future performance, particularly in the realm of artificial intelligence-driven advertising.

The upgrade comes amid a broader trend of analysts raising or maintaining bullish targets on major tech firms benefiting from AI developments. Wells Fargo's analysts cite Meta's growing use of AI in its advertising tools as a key factor driving the price increase. The company's AI-powered tools, such as video generation and automated creative solutions, have been adopted by over two million advertisers worldwide, indicating strong market uptake and potential for growth.

Citizens JMP, another brokerage firm, has also maintained a $900 price target for Meta, emphasizing the company's AI-driven ad tools and their potential to enhance advertiser returns and scale new ad formats . The firm highlights Meta's Advantage+ creative AI tools, which are already being used by nearly two million advertisers, as a key advantage.

Wells Fargo's new target price of $837 reflects a more optimistic view of Meta's ability to leverage its AI infrastructure and digital ad products to enhance advertiser performance and engagement across its platforms. The financial services company's confidence in Meta's long-term growth potential is bolstered by the company's large and engaged user base, favorable trends in ad pricing, and the track record of its AI-driven tools.