Meta shares rise after Wells Fargo raises AI price target
Meta Platforms shares rose 6.90% intraday after Wells Fargo raised its price target to $796 from $640 and kept an Overweight rating, citing early signs of a new product cycle following performance of Meta's Muse Spark 1.3 model. Wells Fargo kept revenue estimates unchanged.
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06:34:27 PM UTC
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Truist analysts expect that Meta's new AI assistant, Muse, will add $28.5 billion in incremental revenue by 2030 under a base case scenario. They say in a note that Muse represents "the clearest attempt yet to build a non-ad revenue stream to complement its ad juggernaut and show ROI against its la…
3 model. Wells Fargo left its revenue estimates unchanged.