What changed
JPMorgan moved to overweight on Thursday, pointing to Meta's launch of Muse, an AI assistant built to complete tasks for users. Anmuth highlighted early data and wrote, "Meta's Muse AI agent has strong early traction, reaching as high as #3 in the US app store on its second day and early usage running at 10x that of training cohorts." He also argued that "Meta is well-positioned to deliver consumer-driven AI products to its base of ~4B users, and that scaled distribution is a significant competitive advantage."
Market moves and recent context
Shares gained 1.5% in premarket trading, adding to Wednesday's 6.6% rise after Wall Street cheered Muse's potential. The stock is up about 20% from an August trough, helped in part by Meta's settlements in social-media trials last month. Even so, the name has lagged this year, with 2026 performance roughly flat while the Nasdaq 100 has advanced by over 16%. That gap reflects earlier skepticism around Meta's AI push, including a late-July update that came with a softer revenue outlook and fresh questions about heavy AI infrastructure spend and when it will bear fruit.
Analyst outlook and broader sentiment
Anmuth expects the rebound to continue and has raised his December 2027 price target from $640 to $820. By his math, that suggests potential appreciation of more than 25% from where shares currently trade. The average target across analysts sits near $750. With this upgrade, more than 90% of analysts tracked by Bloomberg rate the stock at a buy-equivalent, the remainder call it a hold-equivalent, and no one is on record with a sell.
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What this means for your portfolio
Muse is a reminder that distribution matters: if Meta can ship useful AI tools to billions of users, the story can shift faster than the year-to-date chart suggests. The flip side is investors are still watching for proof that big AI spending translates into revenue beyond advertising. If adoption stays hot and guidance firms up, that disconnect with the Nasdaq could keep closing.
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