Meta Shares Jump After Pivotal Research Lifts Price Target on AI Bet

Meta Platforms shares rose on October 13 after Pivotal Research raised its price target on the stock, pointing to the company's progress in artificial intelligence as the reason for its more bullish view. The move helped drive one of the bigger single-stock rallies of the session. The target hike adds to a string of recent upgrades tied to AI spending across the big technology companies, and it suggests at least one major research shop sees Meta's AI investments beginning to pay off rather than simply weighing on margins. For a stock that has swung on AI capital-spending headlines all year, a price-target increase grounded in AI progress — rather than caution about AI costs — marks a shift in tone. What remains unresolved is whether this optimism holds up against Meta's next earnings report, when investors will get fresh detail on AI-related capital expenditure and whether it is translating into revenue growth rather than just cost.