Truist Raises Meta Price Target to $1,000 Ahead of Earnings

Truist Securities analyst Youssef Squali raised his price target for Meta Platforms to $1,000 from $763 on Oct. 13, extending the valuation to year-end fiscal 2027 ahead of the company’s third-quarter results.

Squali kept a Buy rating. The revised discounted cash flow model moves its endpoint from year-end fiscal 2026 to year-end fiscal 2027, extending the valuation horizon by one year. It includes Muse’s expected contribution and reflects higher capital spending. The new $1,000 target is $237, or about 31%, above the previous target.

Meta’s July outlook forecast 2026 capital expenditures of $130 billion to $145 billion, including principal payments on finance leases. The company also guided to third-quarter revenue of $61 billion to $64 billion. Meta’s second-quarter results showed revenue growth of 28% while expenses rose 55%.

Meta shares fell 3.7% in the U.S. session on Oct. 16 during a broad technology selloff. The S&P 500 fell 1.1%, and the Nasdaq Composite declined 2.1%. Meta’s decline exceeded the S&P’s by 2.6 percentage points and the Nasdaq’s by 1.6 points. The session closed at 4 p.m. ET (20:00 UTC).

UBS’s Oct. 14 Meta listing put the stock at $737.54, with an $884 target and a Buy rating. Truist’s $1,000 target is $116 above UBS’s $884 target. Meta’s Muse app reached three million U.S. installs in its first 16 days.

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Meta is scheduled to release third-quarter results after the market closes Wednesday, Oct. 21. Its earnings call is set for 4:30 p.m. ET (20:30 UTC).