Canaccord Raises Meta Price Target to $950

Canaccord analyst Maria Ripps raised the price target on Meta Platforms Inc.

(NASDAQ: META) to $950 (from $930) while maintaining a Buy rating.

“We came away from Meta Connect even more constructive on Muse, as Meta added a growing list of retail partners and new ways to reach the agent through its glasses, a Mac app, and a small dedicated device ahead of rival launches.

Early adoption has been strong, with Sensor Tower estimating that Muse passed 2.5 million downloads in its first two weeks, while the stock has rallied more than 40% in the past month.

We expect the shares to keep re-rating higher as Muse demonstrates that Meta’s model and infrastructure spending can support a product that earns from subscriptions and, over time, transaction fees, with advertising as additional optionality.

We do not expect that path to be linear, however, since competitors are preparing consumer agents of their own, including OpenAI, which hired the creator of the open-source OpenClaw agent earlier this year to build personal agents, as well as Anthropic and Google, which continue to extend Claude Cowork and Gemini toward everyday tasks.

Muse’s early lead has come without direct competition, since none of those companies has yet launched a comparable consumer agent, and we expect competitor launches to test investor confidence in Muse’s positioning.

In our view, Meta’s reach across its apps, together with an advertising business that can fund a free agent for years, gives it room to keep Muse’s fees low while stand-alone AI developers may face pressure to monetize their agents sooner.

We increase our PT to $950 (from $930) and maintain our BUY rating.”

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