Meta stock rose more than 10% in intraday trading ahead of Wednesday's Meta Connect conference after Wells Fargo raised its price target to about £596 ($796) and the Muse AI app topped Apple's App Store, according to the report.
The higher target and Muse's chart position follow last year's AI model delays and questions about Meta's infrastructure spending. Chief executive Mark Zuckerberg has since rebuilt the company's AI lab, with its recent launches forming the basis of Wells Fargo's assessment.
