JPMorgan resets Meta stock price target for the rest of 2026

JPMorgan analyst Doug Anmuth has upgraded Meta Platforms' stock price target for the remainder of 2026 and beyond, citing the company's new AI agent and frontier models as a path to growth beyond its traditional advertising business. Anmuth raised the target from $640 to $820, representing a potential 25% upside from the previous closing price.

He attributes this optimism to Meta's early-stage development of frontier models and AI-driven products, such as the Muse AI agent and Meta Model API access. Anmuth also praised Meta's Superintelligence Lab for its rapid progress, noting that the company's Muse Spark model has reached competitive levels with OpenAI and Anthropic.

While acknowledging the significant capital expenditures required to support Meta's AI buildout, Anmuth remains bullish on the company's potential, projecting a free cash flow deficit without revenue generation from AI products in the near term.