On January 12, 2026, Wells Fargo adjusted its price target for Meta Platforms, Inc. (NASDAQ:META) from $802 to $795. The firm maintained an 'Overweight' rating on the stock. According to a report by TheFly, this change was described as a valuation reset rather than a shift in the company's fundamentals.
Wells Fargo expressed continued optimism about Meta's fourth-quarter earnings and its outlook for 2026. The firm reiterated its confidence in the company's projected earnings per share of $31 to $32 for the year 2026.
The firm also noted that Street estimates for Meta's capital expenditures are likely to increase. This expectation is tied to the company's ongoing progress in scaling its artificial intelligence infrastructure.
Looking forward, Wells Fargo projects that Meta's growth will accelerate. This acceleration is anticipated with the release of the next-generation Llama model, expected in the first half of the year, and the rollout of associated AI-driven products. The firm stated these factors would help address short-term spending concerns and reaffirm long-term growth expectations.
In a related development earlier that week, on January 9, 2026, Meta Platforms announced it had entered into 20-year power purchase agreements with Vistra. These agreements secure electricity from three nuclear power plants in the United States, including facilities located in Ohio and Pennsylvania. The deals are seen as a direct response to the rising power demands from AI operations and data centers, translating that demand into long-term, baseload power commitments.
Meta Platforms, Inc. is known for developing social media and immersive technologies. Its operations include the Family of Apps segment, which encompasses Facebook, Instagram, and WhatsApp, and the Reality Labs segment, which focuses on virtual and augmented reality platforms.