Wells Fargo lifts Meta target to $796 from $640 on Muse traction; shares rise over 10%
Wells Fargo analyst Ken Gawrelski raised his Meta price target to $796 from $640 and kept an Overweight rating, citing early traction for Muse. Shares rose more than 10% intraday, and a report said the Muse app topped Apple's App Store chart. The move shows the market now treats Muse adoption as a driver of the stock, alongside the capex worries from July.
- Price target raised to $796 from $640; rating Overweight (kept)
- Meta shares up more than 10% intraday on the day
- Report says Muse topped Apple's App Store chart (country unconfirmed)
- Move came ahead of the Meta Connect conference that week
META around the story · hourly24 h reaction ▲ 1.79%
Moves this explains
AMD+10.01%Sep 20 · AMD rose 10.0% alongside Meta, which rose 10.1% after Wells Fargo raised its Meta target to $796 from $640 on early traction for Meta's Muse AI app. Intel (+10.8%) also rose and the S&P 500 gained 1.3%. Meta is AMD's 6 GW Instinct partner, but no direct AMD link to the Muse news was reported.META+10.09%Sep 20 · Meta rose 10.09% on the day Wells Fargo raised its price target to $796 from $640, citing Muse traction, while the S&P 500 gained 1.31%. The analyst upgrade was the main Meta-specific catalyst reported.SPY+1.26%Sep 20 · Rose 1.26% with tech leading: Meta +10.09% after Wells Fargo raised its target to $796 from $640 on Muse AI traction. AMD (+10.01%) and Intel (+10.77%) rose by similar amounts and QQQ gained 2.66%, so the Meta move was part of a wider chip and tech rally.Source
IBTimes UKSep 21, 2026