Meta beats Q3 forecasts, analysts raise price targets on AI growth

Meta Platforms' third-quarter earnings exceeded Wall Street expectations, driven by its artificial intelligence push, prompting analysts to raise price targets and express bullish sentiment on the stock's future growth. Revenue hit $64.6 billion versus the $63.37 billion expected, with earnings per share surging to $3.83 from $1.05 a year ago. The September launch of its Muse AI assistant boosted shares nearly 27% in one month, and analysts cite strong ad growth and early AI product momentum as key drivers. Barclays raised its target to $880, Goldman Sachs to $860, and JPMorgan to $940, citing AI-driven ad improvements, record engagement on Instagram and Facebook, and monetization potential from subscriptions and enterprise offerings. Analysts see Meta as a leading consumer GenAI winner with long-term runway.