Meta Heads Into Connect With Fresh Wells Fargo Bull Case As Muse Gains Traction — Analyst Says Company ‘Now Has A Story To Tell’

Wells Fargo expects Meta Connect to put fresh attention on adoption of the company’s newest AI products after a series of recent launches, per TheFly.

• Wells Fargo raised its META target to $796 from $640 and kept an ‘Overweight’ rating.
• Meta enters Connect with product momentum from recent model releases and early Muse traction.
• Wells Fargo expects investors to focus on Muse usage statistics and Meta’s latest models.

Meta Platforms Inc. (META) received a higher price target from Wells Fargo ahead of Meta Connect, with the firm saying recent model launches and early traction for the Muse assistant have given the company “a story to tell,” according to TheFly.

Meta Connect is an annual multi-day event hosted by the tech giant where it showcases its newest developments in artificial intelligence (AI), augmented reality (AR), virtual reality (VR), and smart glasses. This year, the event runs Sept. 23 to 24, both virtually and at Meta’s Menlo Park headquarters.

Wells Fargo maintained an ‘Overweight’ rating on META stock and raised its target to $796 from $640. The new target implies roughly 19% upside from META’s last close. The analyst expects attention at Meta Connect to center on usage metrics for Muse and Meta’s latest models, according to TheFly.

META stock was up more than 3% in Monday’s premarket, and was among the top trending tickers on Stocktwits at the time of this writing.

Muse Gives Meta A New Consumer AI Push

Meta launched Muse on Sept. 8, describing it as a personal AI agent that can perform tasks rather than simply answer questions. Muse can send emails, book travel, fill out forms and continue working after a user closes the app. It is powered by Muse Spark, Meta’s most capable model for agentic work. The service is rolling out in the U.S. through iOS, Android, muse.ai and WhatsApp, with AI-glasses support planned. 

CEO Mark Zuckerberg described Muse in an X post as a personal agent that understands users’ goals and works continuously to get tasks done on their behalf. Most functionality will remain free, while subscription plans will offer heavier usage, according to the company.

Meta has also continued updating its underlying models. Muse Spark 1.3, released earlier this month, adds improved performance across long-running agentic and coding tasks.

Analysts Are Watching Whether META’s Muse Can Scale

The early product momentum has also prompted questions about how meaningful Muse could eventually become financially.

Oppenheimer analyst Jason Helfstein estimated Meta would need about 115 million paying Muse subscribers at $20 per month to generate roughly $27.5 billion to $28 billion in annual AI-agent revenue, according to a 24/7 Wall St report. 

Helfstein was skeptical that Muse would reach that level, citing paid-conversion challenges, competition and consumer trust concerns.

Retail Sentiment Around META Stock

On Stocktwits, retail sentiment around META stock remains ‘bearish’. 

So far this year, the stock has rallied a little over 2%. In comparison, the Roundhill Magnificent Seven ETF (MAGS), which holds META stock, has risen nearly 8% over the same period.

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