JPMorgan Changed Its Mind on Meta Stock After This Major AI Breakthrough

JPMorgan recently upgraded Meta Platforms (META) from “Neutral” to “Overweight” and raised its price target on META stock from $640 to $820 after the company launched its Muse personal artificial intelligence (AI) agent. The AI agent reached third in the U.S. App Store shortly after launch, with Muse Spark appearing much better than the AI models Meta Platforms routinely used to release.

Muse is so good, in fact, that JPMorgan thinks the model can compete with leading AI models from OpenAI and Anthropic. Another model, called "Watermelon," is in the works from Meta and could further accelerate the company's progress against leading AI labs.