JPMorgan Chase & Co. upgraded Meta Platforms Inc. (NASDAQ: META) from Neutral to Overweight. The firm increased its price target for the stock to $820 from $640.
Analysts cited growing confidence in Meta’s ability to monetize artificial intelligence initiatives beyond its core advertising business. This rating change follows a 6.55% surge in Meta’s stock price on September 9.
The stock rally followed the rollout of Muse, an AI agent designed to handle tasks such as sending emails and booking travel. JPMorgan expressed optimism regarding revenue diversification despite rising capital expenditures for AI infrastructure. The broader analyst consensus for Meta remains a Moderate Buy.