JPMorgan upgrades Meta to overweight, sets $820 price target

JPMorgan (JPMorgan Chase) upgraded Meta (Meta) from neutral to overweight on September 10, 2026, raising its price target from $640 to $820. The firm cites the successful deployment of frontier models and AI agents, such as Muse, as key drivers for revenue diversification beyond advertising. While Meta faces significant capital expenditure pressure, with projections reaching $243 billion in 2027 and $284 billion in 2028, analysts remain confident in the company's AI-driven growth and core advertising improvements. The Muse AI agent has seen strong early adoption, ranking third on the U.S. App Store, while new enterprise agent tools and model APIs are expected to open additional monetization channels.