Wedbush Adds META to Best Ideas List, Reiterates Outperform and $920 Price Target

Core Insights - Meta Platforms, Inc. has been added to Wedbush's "Best Ideas List" with an Outperform rating and a price target of $920, driven by strong core ad growth and AI hardware momentum [1] - The company's spending on AI capabilities is deemed justified as it enhances advertising systems and content recommendation engines [2] - There is a perceived disconnect between Meta's fundamentals and investor sentiment, presenting an attractive upside opportunity [3] Financial Performance - The firm indicates healthy underlying demand in Meta's core business and a commitment from management to long-term strategic goals [3] - Despite caution regarding expense and capital expenditure outlook, the investment in AI is seen as a positive factor for future growth [2] Market Position - Meta is expanding its advertising capabilities and investing significantly in artificial intelligence and the metaverse [4] - While Meta is recognized as a potential investment, some analysts suggest that other AI stocks may offer greater upside potential with less downside risk [4]