Meta is trading 10.08% up at $732.30 after Wells Fargo raised the price target to $796 from $640, citing progress in artificial intelligence initiatives.
- Meta announced Petal, a planned petabit-capacity cable connecting the United States and France, reinforcing its AI infrastructure strategy.
- Broader risk-on sentiment, led by rising technology stocks and falling oil prices, added support.
- Attention is building ahead of Meta Connect on September 23; the September 21 dividend ex-date is a separate corporate-calendar item.