Meta jumps 8.6% as Wells Fargo lifts target to $796

Meta launched Muse in the U.S. on September 8 as a personal AI agent that can send email, book travel, fill out forms, and keep working after the app closes. It runs on Muse Spark, which Meta has called its most capable model for that kind of task, and is available on iOS, Android, muse.ai, and WhatsApp, with glasses support still to come. The same model already powers Meta AI in the Meta AI app and is rolling across Facebook, Instagram, WhatsApp, Messenger, and Meta's glasses.

The stock's prior big move came 12 days before this article, when shares gained 6.7% on news of the Muse launch. That offering includes a free tier alongside $20 and $100 subscription tiers, and investors welcomed it as evidence Meta is turning AI investments into commercial software offerings. Meta is up 12.1% since the beginning of the year and trades close to its 52-week high.

The latest move is relatively modest in context: Meta has had 15 moves greater than 5% over the last year, and today's gain suggests the market sees the news as meaningful but not fundamental. Whether the higher price target holds up may depend on whether the early Muse usage numbers translate into lasting engagement, and on what Meta shares at its conference.