Meta Spikes 7% as Wells Fargo Lifts Price Target to $796 Ahead of Connect; Alphabet Nudges Higher, Microsoft Holds Flat
Wells Fargo kept an Overweight rating and said early traction in Meta’s Muse assistant could support more monetization.
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BizTocMeta Spikes 7% as Wells Fargo Lifts Price Target to $796 Ahead of Connect; Alphabet Nudges Higher, Microsoft Holds Flat
The post Meta Spikes 7% as Wells Fargo Lifts Price Target to $796 Ahead of Connect; Alphabet Nudges Higher, Microsoft Holds Flat appeared first on 24/7 Wall St.. Meta Platforms (NASDAQ:META) stock is leading mega-cap technology higher this morning after Wells Fargo lifted its price target on the company just ahead of the annual Connect developer conference. The move stands out against a firm but not roaring sector tape, with peer names climbing …
The bank raises its valuation of Meta by $156 against the advance of its artificial intelligence, while Muse opens the door to a new source of revenue beyond advertising.
Meta Stock Today: Shares Surge 7% After Wells Fargo Raises Price Target, Citing Strong Growth Prospects Ahead of Company’s Upcoming Connect Event
Meta Platforms shares climbed sharply on Monday following Wells Fargo's elevation of its price target to $796 from $640, driven by optimism surrounding the company's newly launched Muse artificial intelligence assistant.
Meta's shares rose more than 10% in intraday operations after Wells Fargo raised its target price and Muse AI reached the top of Apple's App Store. The rebound occurs before Meta Connect, where Mark Zuckerberg will present the company's next plans for artificial intelligence and portable devices.
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