The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
What happened: Meta (META) stock rallied more than 5% on Wednesday.
What's behind the move: Shares of the social media platform gained after the company debuted Muse, an AI assistant. Wall Street analysts are bullish on the standalone chatbot.
"We believe Meta's Muse consumer AI agent marks the beginning of a substantial product cycle for Meta that is not priced into shares," Mizuho Securities analysts said in a client note. The firm has an Outperform rating and a $750 price target on the stock.
Meanwhile, KeyBanc Capital Markets analysts hold an Overweight rating on the stock with a price target of $780. The analysts wrote that they "continue to believe the market underestimates Meta's AI positioning and product cycle."