Shares of Meta Platforms (META) rose over 6% on Wednesday after Wall Street analysts expressed support for the company’s new AI agent, Muse. Muse is designed to track tasks, assist with everyday questions, and accomplish goals while operating like a messaging app, including via WhatsApp. CEO Mark Zuckerberg highlighted Muse’s privacy features, including a secure credential store that cannot read passwords or credit cards. Analysts at Mizuho Securities and KeyBanc Capital Markets raised price targets, citing Meta’s AI product cycle and positioning. Year to date, META stock is down roughly 1% but has rallied 9.8% in the last 30 days.
Shares in Meta Platforms (META) climbed over 6% on Wednesday following analyst endorsements of the company’s new AI assistant. The firm debuted Muse, an AI agent designed to help users track tasks, manage long-term goals, and answer everyday questions.
Muse “is designed around the way people already communicate, so talking to it works just like messaging another person, in the Muse app or directly in WhatsApp,” Meta said on Tuesday. CEO Mark Zuckerberg touted the tool’s privacy and security in a video message.
“We built a Secure Credential Store for your passwords and credit cards so Muse can’t read this information,” Zuckerberg said. He added that Muse “checks directly with you before taking sensitive actions like making payments or sending messages.”
Wall Street analysts raised forecasts for META stock, driving shares higher. “We believe Meta’s Muse consumer AI agent marks the beginning of a substantial product cycle for Meta that is not priced into shares,” analysts at Mizuho Securities wrote in a client note.
Mizuho has an Outperform rating and a $750 price target on the stock. Analysts at KeyBanc Capital Markets hold an Overweight rating with a $780 target. They wrote that they “continue to believe the market underestimates Meta’s AI positioning and product cycle.”
Meta shares have recovered most of their declines from earlier this year. Year to date, the stock is down roughly 1%, but has rallied 9.8% in the last 30 days.
The company has ramped up its AI efforts, with Zuckerberg providing a roadmap for its AI plan. “The notion that AI is so dangerous that the only safe path is an extreme concentration of power seems inherently problematic,” he said.
