Wells Fargo Raises Meta's Price Target to $1,000 Amid Strong Performance of Muse AI Agent
Wells Fargo has raised its price target for Meta Platforms (ticker: META) from $796 to $1,000 per share, indicating a nearly 35% upside potential. The bank reiterated an overweight rating on the stock and cited strong momentum driven by Meta's new AI agent, Muse, which launched in early September. Analyst Ken Gawrelski highlighted that while near-term monetization of Muse may be limited, long-term growth is expected as AI product revenue becomes a key contributor starting from 2028. Meta’s stock has gained nearly 20% since the launch of Muse on Sept. 8, outperforming the S&P 500's modest gain of about 1.5%. The app quickly became the top free application in Apple's App Store and is generating significant interest among both investors and consumers. Wells Fargo’s $1,000 price target is currently one of the highest on Wall Street for Meta.
Topics: Meta Platforms Muse AI Agent Stock Price Target Wells Fargo