JPMorgan upgraded Meta Platforms (META) to Overweight from Neutral. The bank raised its price target to $820 from $640. This revision represents a 28% increase in the valuation. The new target suggests a potential 25.5% upside from the stock's previous closing price.
Analysts cited growing confidence in Meta's ability to monetize artificial intelligence. The launch of the Muse personal AI agent and new API access serve as primary growth drivers. Meta shares jumped 6.5% on September 9 following the initial Muse product announcement.
JPMorgan expects AI-driven improvements to continue scaling the core advertising business. The firm anticipates significant growth despite high levels of AI-related capital expenditures.