Meta Platforms, Inc. (NASDAQ:META) is one of the AI Stocks Analysts are Tracking Closely. On November 13, Wedbush added the stock to its “Best Ideas List”; keeping an Outperform rating and a $920 price target.

The firm sees more upside in Meta driven by robust core ad growth, AI hardware momentum, and optimism fueled by Meta AI and Superintelligence Labs.

While there has been caution surrounding Meta’s expense and capex outlook, the company’s spending stands “justified,” considering how AI capabilities have been infused across its advertising systems and content recommendation engines.

Stock market data on a laptop screen. Photo by Alesia Kozik on Pexels

“Post-results, we think the disconnect between fundamentals and investor sentiment offers attractive upside to META, BKNG, and DASH. With this report, we are adding META to the Wedbush Best Ideas List, and upgrading our ratings of BKNG and DASH to Outperform.”

The firm believes that there are signs of healthy underlying demand in the core business and sees management committed to long-term strategic goals.

Meta Platforms has been expanding its advertising capabilities and also invests heavily in artificial intelligence and the metaverse.

While we acknowledge the potential of META as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.