Meta rises as Truist lifts its price target to $1,000 on early Muse AI agent traction

Truist analyst Youssef Squali raised his price target on META to $1,000 from $763 on October 13 and kept a Buy rating, pointing to early adoption of the Muse AI agent, which Meta launched on September 8, along with a roll-forward of his valuation. The new target matches Wells Fargo's $1,000. Truist's base case has Muse adding $28.5 billion of revenue by 2030, and the firm expects third-quarter revenue of $63.9 billion against a $63.3 billion consensus.

Meta shares traded up about 4% by mid-morning, alongside a similar gain in SNAP and a 2% rise in RDDT, even as the QQQ exchange-traded fund slipped 0.4%. Meta closed about 2.6% higher near $762.50. The stock is up 21% since Muse launched. Rosenblatt reiterated its Buy rating and $886 target the same day, a target that sits 16.2% above that close.

The backdrop is Meta's second quarter, reported July 29: revenue of $60.80 billion beat expectations, while diluted EPS of $6.18 fell short of consensus as costs rose, and the company narrowed 2026 capital spending guidance to $130 billion to $145 billion. That spending is the reason Muse adoption matters: investors want evidence that AI products can earn a return on it.

SentiSense's own consensus data shows an average target of $799 across 58 analysts, so Truist sits well above the pack. Meta's third-quarter report later this month is the next test of whether Muse traction shows up in revenue and in the third-quarter revenue guidance range of $61 billion to $64 billion.