JPMorgan Chase maintains "Overweight" rating on Meta: Muse remains popular, with a target price of $820.

　　JPMorgan ChaseWe reiterate our "Overweight" rating on Meta and maintain our $820 target price. The bank believes that the number of users increased after Muse's launch.ChangheThe pace of product iteration is strengthening market expectations for Meta's artificial intelligence business.

After Meta launched Muse 2 in September, related products quickly gained user attention. Muse has now risen to the top of the US App Store's free App download charts, with downloads increasing further compared to a week ago. In the two weeks since the release of Muse 2, Meta's stock price has risen by approximately 21%, compared to the same period last year.S&P 500The index rose only about 1%.

JPMorgan Chase believes that Muse's current growth is not solely based on short-term popularity. Over the past few months, Meta has continued to accelerate the upgrade of the Muse Spark model, making progress in both AI agents and multimodal capabilities, and launching a number of new features in the two weeks following the launch of Muse.

The bank pointed out that Muse's most important advantage at present lies in the combination of product dissemination speed and Meta's own massive distribution system. Meta has large user platforms such as Facebook, Instagram, and WhatsApp. Once Muse can maintain high user activity, the company has the ability to rapidly expand its product reach.

Recently, other institutions have also given positive evaluations of Muse.Bank of AmericaPreviously, Meta reiterated its "buy" rating, noting that Muse's performance in executing multi-step tasks and reducing user intervention received positive feedback.

At the same time, Meta continues to expand its investment in AI-related infrastructure. The company recently announced the Petal submarine fiber optic cable project, which plans to connect France and the United States. It is expected to be operational in 2029 and will provide transoceanic transmission capabilities of 1 beat per second to support larger-scale data and computing power needs in the future.

Overall, JPMorgan Chase believes that Muse's rapid growth, continuous upgrades to its model capabilities, and the distribution advantages of Meta's existing platform are forming a positive cycle, which is the main reason why it continues to maintain its "overweight" rating and $820 target price.