Meta Shares Surge on Wells Fargo Upgrade and Muse AI Traction

Meta Platforms shares closed at $741.25 on September 21, up 11.43%, after Wells Fargo raised its price target on the company to $796 from $640, citing early traction for Muse, the personal AI agent the company launched earlier this month. Trading volume reached 48.3 million shares, about 157% above the three-month average of 18.8 million shares. The rally left Meta's market capitalization in a range of roughly $1.82 trillion to $1.90 trillion, less than $100 billion short of the $2 trillion milestone. Wells Fargo analyst Ken Gawrelski maintained an Overweight rating while lifting the target, pointing to recent AI model launches, early Muse adoption, and potential catalysts from the upcoming Meta Connect conference. Muse reportedly generated about 730,000 U.S. iOS downloads in roughly five days and briefly ranked ahead of ChatGPT, Grok, and Claude among free apps, according to reports cited across multiple accounts. The figures have not been independently verified. Muse, introduced around September 8, is designed to perform tasks such as sending email, booking travel, and completing forms rather than simply answering questions.