JPMorgan raises Meta’s target price to $920, optimistic about Muse AI’s commercialization prospects

Meta's newly launched Muse AI agent has driven tech stocks higher this week, with the company’s Connect conference on Wednesday evening showcasing related products and drawing further market attention to its AI strategy. The JPMorgan analyst team has raised Meta's price target from $820 to $920. JPMorgan's optimism is largely attributed to the Muse agent, which the bank believes has the potential to become "the most widely used consumer AI application after ChatGPT." On Wednesday evening, Meta announced that the Muse AI agent can now access “connectors” including Walmart, Best Buy, Sephora, and Wayfair, enabling interactions with these companies’ services. However, Amazon is currently preventing the agent from accessing its marketplace. JPMorgan analysts noted that, over time, Meta could generate commercial revenue through this approach, such as by adopting sales commission or revenue-sharing models.