JPMorgan Upgrades Meta Stock and Raises Price Target for 2026
On September 10, JPMorgan analyst Doug Anmuth upgraded Meta Platforms (ticker: META) from Neutral to Overweight and raised its price target significantly. The new $820 per share target implies about a 25% upside compared to the closing price on September 9. This shift reflects growing confidence in Meta's AI initiatives, particularly with the release of Muse AI agent and access via the Meta Model API. Anmuth highlighted that Meta is at an early stage in deploying frontier models and AI-driven products beyond advertising. He cited progress from the Superintelligence Lab, including competitive model releases like Muse Spark 1.3, as well as future opportunities with a new internal project dubbed Watermelon. The analyst also noted strong initial traction for Muse AI on app store rankings despite its recent launch. JPMorgan acknowledged that Meta's aggressive capital expenditures—projected at $243 billion in 2027 and $284 billion in 2028—are substantial but argued there is still growth potential from core advertising improvements driven by AI. The upgrade suggests the market may be underestimating early product momentum, even though monetization of these new offerings remains a longer-term goal.
Topics: AI Investment Analysis JPMorgan Meta Price Target