Reports that Meta Platforms (NASDAQ: META) would begin renting out excess compute not only moved its stock market price but also triggered a deluge of Wall Street analyst forecast updates by press time on July 2.
Specifically, in the first two days of the month alone, as many as ten institutional experts unveiled their META shares rating and target revisions, with 80% of the notes being bullish.
UBS’ Stephen Ju was responsible for the highest 12-month forecast on July 1 when he both issued a ‘Buy’ recommendation and estimated the blue-chip technology giant would rally to $865.
Citi (NYSE: C) analyst Ronald Josey was nearly as bullish one day later when his $850 price target was accompanied by a ‘Buy’ rating. Meanwhile, Mizuho Securities’ Lloyd Walmsley and Bank of America’s (NYSE: BAC) were tied for the spot of the third-most optimistic Wall Street experts, with their sights set on Meta stock hitting $835.
Elsewhere, though JPMorgan (NYSE: JPM) analyst Doug Anmuth and Brian Pitz from BMO Securities refrained from issuing bearish notes, they were, nonetheless, outliers in ranking the equity as a ‘Hold.’ Additionally, the former refrained from setting a price target, and the latter forecasted a climb to $710 in the next 12 months.
Why Meta stock price soared 10% on July 1
The rush of rating revisions came together with a sudden July stock market rally for Meta shares that has left the equity 9.52% up in the weekly chart and at $595.11 even after the moderate correction early on the morning of July 2.
By press time, the move appears primarily driven by reports indicating that Mark Zuckerberg’s company is preparing to rent out some of its excess artificial intelligence (AI) capacity.
While the alleged decision has been widely taken as a bullish sign for the firm and a similar move has already served to transform and increase the revenue of Elon Musk’s newer public company – SpaceX (NASDAQ: SPCX) – it can simultaneously be seen as a warning about the AI move.
Indeed, multiple reports throughout 2026 indicated that data center construction hasn’t been going according to plan, with numerous delays and even outright cancellations meaning that, despite capacity being lower than could have been expected based on initial announcements, demand remains lower than supply.
Featured image via Shutterstock
The post Wall Street sets Meta stock price target for next 12 months appeared first on Finbold.