JPMorgan upgraded Meta Platforms from Neutral to Overweight. The bank significantly raised its price target for the stock to $820 from $640.
Analysts cite Meta's growing potential to monetize artificial intelligence beyond traditional advertising. The new Muse AI agent recently reached the top three in the U.S. App Store shortly after its launch.
Meta’s superintelligence lab is producing models that compete with leading AI systems. These upcoming models may unlock further growth across consumer products, user engagement, and advertising.
JPMorgan anticipates future revenue from commissions and subscriptions within a massive market. The upgrade comes despite expectations for sharply higher capital expenditures related to AI development.