Jefferies raised its price target for Meta Platforms to $875 from $710. The investment bank maintains a Buy rating on the stock.
The upgrade follows a share price surge driven by the launch of Muse, a new personal AI assistant. Jefferies analyst Brent Thill cited strong early adoption and capabilities as the basis for the increased valuation.
The firm projects Muse could generate $10.8 billion in annualized revenue by the end of 2027. This forecast assumes the AI agent attracts one billion users with a 3% paid conversion rate.