Meta Upgraded by JPMorgan on Strong AI Traction

Meta Platforms Inc.'s shares rose 1.5% in premarket trading after JPMorgan Chase & Co. upgraded the Facebook parent to overweight. Analyst Doug Anmuth cited the strong early traction of Meta's AI agent product, Muse, which reached as high as #3 in the US app store on its second day and has seen early usage run at 10x that of training cohorts.

Anmuth sees this as an example of how 'Meta is well-positioned to deliver consumer-driven AI products to its base of ~4B users, and that scaled distribution is a significant competitive advantage.'

Shares of Meta have been flat for 2026, but Anmuth expects the recent rebound in shares to continue. He lifted his December 2027 price target to $820 from $640, pointing to upside of more than 25% from current levels.