Meta Spikes 7% as Wells Fargo Lifts Price Target to $796 Ahead of Connect; Alphabet Nudges Higher, Microsoft Holds Flat
Wells Fargo kept an Overweight rating and said early traction in Meta’s Muse assistant could support more monetization.
- On Monday, Meta Platforms shares rose 7% to $712.56 after Wells Fargo increased its price target to $796, reflecting confidence in early traction for the Muse assistant ahead of Connect.
- Earlier this month, Meta launched Muse, a personal agent designed to perform tasks like sending emails and booking travel across Android, the web, and WhatsApp.
- Investors view the assistant as a significant monetization opportunity, as booking and form-filling capabilities place Meta closer to commerce than traditional feeds, offering new sales potential to advertisers.
- The raised target places pressure on Meta to disclose concrete Muse usage metrics during the upcoming Connect conference, as the company must now justify these expectations to investors.
- While Alphabet rose 2% and Microsoft held flat, Meta's gains suggest a company-specific story rather than a broad verdict on agent-style software, positioning the stock as uniquely driven.
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Meta Stock Soars More Than 10% as Wells Fargo Lifts Target to $796 and Muse AI Tops Apple's US App Store
Meta shares rose more than 10% in intraday trading ahead of Meta Connect after Wells Fargo raised its price target, citing recent Muse AI launches and the app's App Store ranking.
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BizTocMeta Spikes 7% as Wells Fargo Lifts Price Target to $796 Ahead of Connect; Alphabet Nudges Higher, Microsoft Holds Flat
The post Meta Spikes 7% as Wells Fargo Lifts Price Target to $796 Ahead of Connect; Alphabet Nudges Higher, Microsoft Holds Flat appeared first on 24/7 Wall St.. Meta Platforms (NASDAQ:META) stock is leading mega-cap technology higher this morning after Wells Fargo lifted its price target on the company just ahead of the annual Connect developer conference. The move stands out against a firm but not roaring sector tape, with peer names climbing …
The AI assistant "Muse" of Facebook's parent company Meta overtook ChatGPT with more than 2 million downloads a few days after the market launch. This helps Meta to make a price leap and meta founder Marc Zuckerberg to high daily revenues.
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