Meta stock jumps as Wells Fargo raises price target

September 22, 2026 - 00:45

Meta shares surged more than 10 percent during trading after Wells Fargo raised its price target on the stock from $640 to $796. The significant bump in the target price reflects growing confidence in the company's direction, particularly around its artificial intelligence initiatives.

The rally was not driven by the analyst note alone. Meta also received a boost from its Meta Muse AI agent app, which climbed to the top spot on Apple's App Store. That milestone highlights the momentum building around the company's AI push and suggests users are responding positively to its latest product offerings.

The combination of an upgraded price target and a top-ranking app gave investors two concrete reasons to buy into the stock. Wells Fargo's new target implies considerable upside from recent trading levels, and the App Store performance offers a tangible sign that Meta's AI investments are gaining traction with consumers.

Meta has been pouring resources into AI development as it looks to compete with other major technology firms racing to build the next generation of AI tools. The Muse app's rise to number one on Apple's platform signals that those efforts may be starting to pay off in visible ways.

Shares closed the session sharply higher, marking one of the stock's strongest single-day performances in recent months.