Wells Fargo raised its Meta Platforms stock price target to $1,000 from $796 this week. The new figure ranks among the highest targets on Wall Street.
The bank kept its overweight rating. However, the same note expects Meta’s earnings to bottom out before its artificial intelligence (AI) push shows up in estimates.
Wells Fargo Doubles Down on Meta With a $1,000 Price Target
From Meta’s October 6 close of $738.88, the new target implies about 35% upside, according to Google Finance data.
The raise is analyst Ken Gawrelski’s second in about two weeks. He first moved the target to $796 from $640 in late September.
Back then, he pointed to the early demand for Muse, the AI agent Meta released on September 8. The latest note goes further, with the bank expecting Meta to continue climbing on Muse’s success, CNBC reported.
That momentum already shows in the stock’s performance. Since Muse’s launch, Meta shares have gained nearly 20%, compared with a 1.5% rise in the S&P 500.
That run turned around a weak year. Meta was down about 7% year-to-date on September 7, according to fund manager Dan Niles. It now stands up 11.94% for 2026.
The 2027 Catch in Wells Fargo’s Meta Call
Gawrelski framed Muse as the start of a new product cycle and compared it with the early days of Reels.
“[We] see FY27 as trough EPS of new product cycle, akin to 2022 beginning of Reels though w/ Muse a potentially much larger, AI-driven product cycle,” the analyst said.
After 2027, he expects earnings estimates to rise steadily as the market factors in AI product revenue.
Other analysts are more conservative on price. TipRanks data shows an average 12-month target of $806.13 from 46 analysts over the past three months.
JPMorgan raised its target to $920 last month. The bank argued Muse could become the most widely used consumer AI app since ChatGPT. At the low end, BMO Capital keeps a $580 target with a Hold rating.
Jim Cramer is also in Meta’s corner. On October 6, the “Mad Money” host named Meta and Microsoft as examples of the blue-chip AI stocks he favors.
Cramer acknowledged that Meta shares stumbled early in 2026. Still, he said he trusts Zuckerberg and his team to find a way to earn money from its AI spending.
“I thought that Mark Zuckerberg and his dream team are brilliant and they’ll figure something out,” he stated.
Niles sounds more measured after the run-up. He said he likes Meta less than he did in September, though he still sees momentum.
Gawrelski expects Meta’s upcoming earnings commentary to set muted expectations for near-term Muse monetization. How the stock reacts will show whether investors are willing to wait until after 2027.
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