RBC Reaffirms Outperform on Meta at $810 as AI Catalysts Mount

Meta shares trade near $611, down 10% YTD and 25% below their all-time high, after the company lifted 2026 capex guidance to $125-145 billion. Despite the heavy AI spending, Wall Street has maintained strong bullish conviction throughout the period, with a string of major banks reiterating Buy or Outperform ratings. BofA, Wolfe, Rosenblatt and Citizens set targets as high as $1,015, pointing to subscription revenue, enterprise AI sales and excess-capacity monetization that could offset margin pressure and deliver meaningful EPS upside by 2028. The latest note came June 4 when RBC reiterated Outperform and its $810 target.