Meta Platforms price target raised to $856 from $849 at Wells Fargo

Wells Fargo analyst Ken Gawrelski raised the firm’s price target on Meta Platforms (META) to $856 from $849 and keeps an Overweight rating on the shares. The firm argues that compute capacity is emerging as the critical determinant of success, with AI-driven demand poised to materially outstrip supply in the near to medium term. Wells sees hyperscaler capacity doubling to 98 gigawatts by 2027, supported by annual capital expenditures rising to roughly $860B, and expects cloud growth to run meaningfully ahead of current consensus.