Morgan Stanley analyst Brian Nowak projects a 25% upside for Meta Platforms. He set a price target of approximately $815 by the end of 2026. This forecast exceeds the current Wall Street consensus.
Nowak credits AI investments for enhancing the company's core advertising engine. Recent AI improvements drove a 14% increase in ad impressions. These upgrades also produced a notable lift in ad clicks.
High capital expenditure on AI remains the primary risk to this outlook. This spending pressures near-term free cash flow.