JPMorgan Raises Price Target for Meta Following AI Launch
Following Meta's Connect conference on September 23, JPMorgan raised its price target for Meta (META) to $920 from $820 and maintained an Overweight rating. The firm cited the potential of Muse, a new personal AI agent that has already outperformed ChatGPT in early adoption metrics. Muse's rapid growth included becoming the top free iOS app in the U.S., surpassing downloads for competing apps like Claude and Grok within two weeks. JPMorgan analyst Doug Anmuth highlighted its potential to become one of the most widely used consumer AI applications, with a revenue model involving transaction fees from retail partnerships. Meanwhile, Morgan Stanley kept Meta's price target at $775 but noted improvements in hardware design for new AI glasses that could drive future growth. The firm emphasized this as an incremental upside not yet priced into shares.
Topics: AI Agents JPMorgan Meta Muse AI Stock Price Target