Meta Shares Rally as JPMorgan Raises Target on Muse Optimism

Meta shares surged in September as investors responded to the launch of its Muse AI assistant and JPMorgan raised its price target, while the product’s ability to generate sustained use and revenue remains unproven. JPMorgan analyst Doug Anmuth lifted the bank’s target to $920 from $820 and maintained an overweight rating. Anmuth said Muse could become the most widely used consumer AI application since ChatGPT, according to accounts of his analyst note. The assessment is a forecast, not evidence that Muse has reached that scale. Meta shares rose more than 30% during September, with reports describing the stock as on pace for its strongest monthly performance since July 2013. One account put the gain at 36%; reports used different snapshots, so a definitive month-end return is not established. The rally followed Muse’s September 8 launch and Meta’s presentation of product updates at its Connect conference. Meta describes Muse as a personal AI agent designed to handle tasks beyond answering questions. The reports say it can send emails, book travel and make purchases.