Evercore analyst names Meta top large-cap investment pick

On July 22, 2026, analyst Mark Mahaney at Evercore named Meta Platforms his top investment pick among large companies. He set a price target of $820 for Meta's stock and said the company is currently undervalued. Meta's shares trade at a forward price-to-earnings ratio of 17, which is below its five-year average. Mahaney believes that Meta's AI-powered advertising tools, such as Advantage+, will drive strong revenue growth. Meta reported $56.31 billion in revenue for the first quarter of 2026, up 33% from the previous year. The company has also raised its spending plans for AI infrastructure to between $130 billion and $145 billion for 2026. Some investors have worried about these large costs.