Meta Maintains 'Buy' Rating as Jefferies and Bank of America Cite Strong Early Adoption of AI Agent Muse
Jefferies and Bank of America have maintained their 'buy' ratings for Meta Platforms Inc (NASDAQ:META), citing strong early adoption of its new artificial intelligence agent, Muse. The product has seen over 2.5 million global app downloads in just 13 days since launch on September 8, outpacing similar AI launches like Claude and Gemini. Jefferies raised its price target for Meta to $875 from $710, reflecting improved investor sentiment and Muse's monetization potential. The firm estimates that if Muse reaches one billion users by the end of 2027 with a 3% conversion rate to a $30 monthly subscription model, it could generate up to $10.8 billion in annualized revenue. Bank of America highlighted positive user feedback and noted Muse's No. 1 ranking on iOS App Store’s productivity category within days of its launch. However, the bank also pointed out privacy concerns as a potential barrier for broader adoption.
Topics: AI Adoption Bank of America Jefferies Meta Platforms Muse AI Agent