Meta (META), Wall Street 'Buy' Rush..."Target Price Over $800"

▲ Meta (META)/AI-generated image

Meta Platforms (META) showed strength, backed by a series of optimistic views from Wall Street and expectations for new products.

According to Benzinga on September 16 (local time), Meta's stock price rose by approximately 2% during intraday trading. As buying interest flowed into large tech stocks, Nasdaq rose by 0.70% and the S&P 500 by 0.29%. Rosenblatt maintained its 'buy' rating on Meta and set a target price of $886.

Citigroup analyst Ronald Josey also maintained his 'buy' rating and a target price of $800. Josey named Meta as a "top preferred stock." He pointed to the upcoming Connect event next week as a short-term catalyst for an upward trend. JPMorgan upgraded Meta's investment opinion to 'Overweight' on the 10th and raised its target price to $820.

Expectations for new products also boosted the stock price. Meta is reportedly preparing to launch 'Luna,' smart glasses without a camera, this fall. This product will feature six microphones for interacting with Meta AI and shipments could begin as early as October. Meta also began rolling out parental supervision features for Threads in the Asia-Pacific region this week.

Technical indicators simultaneously show the possibility of short-term overheating. Meta was trading approximately 13% above its 20-day Simple Moving Average (SMA) of $602.15 and approximately 9% above its 200-day SMA of $623.90. The Relative Strength Index (RSI) entered the overbought zone at 73.64, exceeding 70. The dead cross formed in December 2025 has not yet resolved. Resistance was set at $686, and support at $556.5.

Meta has declined by 12.66% over the past 12 months. Benzinga assessed the recent surge as a recovery from a previous downturn rather than a long-term upward trend. The market's average target price is $774.58. Rosenblatt's $886 target price and expectations for new product announcements served as key factors driving short-term investor sentiment.

[Article Key Summary]

-Meta's stock price rose by approximately 2% during intraday trading, driven by strong performance in large tech stocks and positive evaluations from Wall Street.

-Rosenblatt maintained a 'buy' rating with a target price of $886, and Citigroup with $800.

-The RSI entered the overbought zone at 73.64, and $686 was identified as a key resistance level.

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